Well, the Christian Science Monitor has spent thousands of hours (I guess) looking up some of the weirdest tax rules around the world. Although some no longer exist, the fact that most were created at all is the weirdest part of this article by Karis Hustad: http://www.csmonitor.com/Business/2014/0214/Top-12-weirdest-tax-rules-around-the-world/China-pro-cigarette-smoking-tax-revenue So some of these laws are just strange (A Beard Tax when Russia was ruled by Peter the Great, fines for not buying cigarettes in a provence in China to increase tax revenue and support tobacco growers and cigarette makers.) I especially liked the fact that the Swedish Government was given authority to approve the names of all young children or your family could be fined the equivalent of $770. (Someone named their kid “Brfxxccxxmnpcccclllmmnprxvclmnckssqlbb11116”, to protest the law; it was denied.) And you thought our Congress had created some odd tax laws – they almost seem sensible now! (Almost.) For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa
Musings of a CPA in Burbank: Debt Ceiling Fix Eases Fears On Tax Refund Delays
Well this time Congress voted on the debt ceiling increase and passed it with no strings attached. Did we secretly kick out all the old people and exchange them with reasonable ones? (Remember, No Strings!) See this article in Forbes by Kelly Phillips Erb that gives more detail on the (non)event: http://www.forbes.com/sites/kellyphillipserb/2014/02/15/debt-ceiling-fix-eases-fears-on-tax-refund-delays/ So I am still wondering what happened! I guess the Republicans in the House realized how they made themselves look like idiots last time this came up and decided to fight their battles another way (who knows what this can mean down the road?) Kelly, great article – now our tax refunds are safe for the time being (although I still dislike giving Uncle Sam an interest free loan of my money and then have him – with great fanfare – refund it to me.) For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a CPA: The IRS Talks About Taxable and Nontaxable Income!
So here is the IRS conclusion about taxable and nontaxable income – it comes down to that all forms of income are taxable (according to Uncle Sam) unless it is specifically excluded in the tax code: http://content.govdelivery.com/accounts/USIRS/bulletins/a4a959?reqfrom=share So now you know. I do think it was very neighborly of the Service to give us a list of things that they feel are nontaxable (making everything else under the sun taxable, of course). Well at least they gave us the list – let’s see if there is any way to catagorize any income as part of the nontaxable group. Also want to wish everyone a Happy Valentine’s Day, especially to my two sweethearts, my lovely wife Dorothy and my beautiful daughter Kirsten. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa