I have been paying $40 for tax software every year for the last 25 years, that is $1000. Had I invested that same 40 bucks each year in the SPY 500 that 1000 bucks would be worth over 8000 today.
Maybe it is time i try to do it without the software, my taxes are pretty much the same each year, I would just need to copy my previous year with the new numbers for this year and mail it in.
you guys have given me food for thought, plus mailing in a paper copy would give all those new IRS admin people something to do
The Biden Administration is so Toxic… Everything it touches just turns to shite!!
Now the FBI is slowly imploding as senior staff leave or will soon be removed… As I have said over and over… The longer this goes on the worse it will get for the FBI, the DOJ and the incompetent Biden White House…
I refrain from typing Biden led White House…
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The United Nations “openly laughed” at former US president Donald Trump for raising doubts about their commitment to Russian energy when he was “100 per cent correct,”
TDS is a debilitating condition… The only remedy is a few jabs of reality…
EU have shot themselves in the butt.… It will be a bitter, bitter winter for Europeans across 2022-23
Speaking of a jab of reality, California is experiencing it
Just a week after the state ( not the people) voted to ban gas cars by 2035, reality set in as the California energy commission is warning that they will not have enough electricity for the Labor Day weekend and is urging people to cut back on their electric usage including " not charging their electric cars" Seeing how less than 5% of cars in California are electric now, what happens when that number reaches 50%. Does the state shut down?
Note; this is like the 3rd time California has tried to ban gas cars, each time the deadline has drawn near, they have axed the plan or pushed the date back a decade
Typical strawman, never takes responsibility for his actions or behavior and always lying on others to deflect
Trump baselessly bashed Obama for transferring records from the White House to Chicago. Here’s why Obama was allowed while Trump is under scrutiny by the FBI.
The National Archives took it upon itself to dispel Trump’s claims.
Former President Donald Trump is no longer satisfied with talking only about Hillary Clinton’s emails when it comes to deflecting potential allegations he mishandled classified documents.
“What happened to the 30 million pages of documents taken from the White House to Chicago by Barack Hussein Obama? He refused to give them back!” Trump wrote in an August 11 post on Truth Social. “What is going on? This act was strongly at odds with NARA. Will they be breaking into Obama’s ‘mansion’ in Martha’s Vineyard?”
But the facts don’t align with Trump’s statements
Tens of thousands of Obama’s documents were transported to Chicago. But these items were shipped to a federal government facility — which is what’s supposed to happen with a president’s records. Federal law requires that presidents and their administrations keep a detailed collection of emails, documents, and even gifts from their time in office since all of those things are actually the property of the American people.
In Obama’s case, the National Archives took legal ownership of Obama’s documents and then began the long process of sorting through the material before the public could request it years later. Some of this material was then turned over to Obama’s presidential library, which is the standard legal process.
Some of the ‘Classified’ Folders Found at Mar-a-Lago Were Empty … For Some Reason
Trump has responded to the investigation with a mix of anger and attempted deflection. After the DOJ released an image of some of the materials recovered at his residence, the former president complained that the FBI had “haphazardly” strewn documents on his floors while (despite some of the claims of his supporters) admitting the documents were in Mar-a-Lago.
Since January, the National Archives and federal government have been attempting to recover sensitive documents Trump took to Mar-a-Lago after leaving the White House. The DOJ has now recovered hundreds of classified documents from the former president’s home, including dozens containing “top secret” classification markings or relating to sensitive human intelligence operations.
A detailed receipt of the materials recovered from the former president’s Palm Beach golf club was unsealed Friday. Among the 33 boxes seized in the raid was a jumble of classified material, emptied folders, press clippings, magazines, clothing, and books.
Mfst HQ is in Ireland - well over 2000 dedicated staff from over 70 different countries on their campus.
Ireland’s corp tax is 12.5% plus generous R&D tax credits plus healthy graduate programmes - attracts companies such as Apple etc as gateway to EU.
Tax avoidance is is perfectly legal for any business - Pres Trump calls it ‘smart’ and he is correct - it encourages investment.
Tax evasion is illegal and far from smart because it can land a person in jail…
My tax y/e is Aug 31st. Accounts report in July that I’m in line for a tax bill of 100k by y/e so I have 4 weeks to reduce that bill.
Tax authorities give relief for spending in various forms, the easiest relief is ‘costs’ i.e. running costs - problem these costs do not give a return so it’s not smart to just spend on costs (like a foreign holiday put down to travel) in the 4 weeks - that’s evasion.
What is smart is to spend (invest) in something that will create a return in the future - less tax now though likely more tax in the future as the investment makes returns.
And so the cycle continues - higher tax liability so more investment - thus the business expands.
One other thing - business investment creates yet more business thus yet more spending - it’s an increasing circle.
Perhaps one reason that Ireland’s GDP per capita is second highest in Europe.
Finally - the relationship between Ireland and the United States precedes modern partisan politics, it even precedes the tax affairs of US companies, it even precedes all current grandparents and great grandparents.
Back in the mid 1800’s the poor people of Ireland suffered greatly in a food famine - then an equally poor community in the US got to hear about it.
To this day it is not clear how the US community were informed of a tragedy 1000’s of miles across the Atlantic Ocean - but they did. They created a GoFundMe (of that era) and raised $170.00 for those desperate Irish families - a huge amount in 1847.
Disinformation isfalse information deliberately spread to deceive people.
Fox News’ Greg Gutfeld Confesses He Is ‘Pro-Disinformation’
He makes a great point in the bold letters below, Tragic, but true, Fox News playing into the mental instability of people
“I am pro-disinformation because one man’s disinformation is another person’s fact, right?”said Gutfeld,who advised viewers against receiving a COVID-19 booster shot during the Omicron variant surge last winter.
Totally agree on the legality of tax avoidance. But where Ireland is seeing benefits from it, there’s somebody on the other side of that not seeing the tax revenues.
The US can manage not collecting $10 of billions per year on profits shifted to low-tax tax havens, but smaller countries aren’t so lucky. Maybe that just a sign of the times.
But it’s also a question of international and national tax codes needing updates, so these mega corporations and high net worth individuals don’t cheat the system.
Very common for the public sector policy makers to go private and become lobbyists. They have intricate knowledge of the laws they helped create and know how to best take advantage of system for their employees.
The U.S. private sector looks at it this way. If They provide 25k+ jobs that are all paying taxes, so why tax us so much? We’re creating jobs and the employees are paying taxes, so we shouldn’t have to pay so much.
BTW: This is not the view I share with the private sector and everyone should pay their fair share of taxes
" No nation has ever taxed itself into prosperity"
If the US had a favorable tax program there would be no reason to leave. This also applies within the country as each state has its own tax laws, States like Texas and Florida are taking away business and wealthy tax payers from New York and California
If they remade the Beverly Hillbillies today, I don’t think Jeb Clampett would be moving to California, maybe Florida, how does the Miami Hillbillies sound
This is true - it’s always a difficult from an ethical pov - I suppose capitalism itself poses this question.
IMO it’s not down to the actual tax rate, rather it’s what you do with it - for example Ireland’s rate is not actually the lowest in the EU - Bulgaria is 2.5% lower and yet that country has the lowest GDP per capita.
I’m in total agreement with corps like Microsoft and many others using tax avoidance in all it’s forms because that ultimately improves peoples’ lives - they employ more, who in turn pay more tax and spend more - an increasing circle.
But high worth individuals - that’s a different story - these are guys who have much and want more, maybe an unintended consequence of capitalism.
I see the phrase " pay their fair share" here a lot, but I seldom see anyone put a $ or% on just what fair share is. Here is the US, tax revenue is suppose to be what runs the government, but what we have seen over the last 20+ years, is what the government collects in taxes has no correlation to what it spends. Taxes have become nothing more than a political game in an attempt to create class envy.
I am a 10% flat tax guy, if God can do all is glory on 10% of my income, then I think our governments should be able to do the same without deficit spending.
Chicago has huge taxes in order to pay the unsustainable union pensions, what makes this unsustainable is most union workers once they get their pensions will move to tax friendly states like Florida or Texas, so your friend in Chicago is paying for someone to retire on Miami beach, Yes I think he has a right to be pissed
