I just posted a discussion about auto logs on my website www.briantstonercpa.com under tax and finaniclal tips. Take a look at it. If you use your car for business it is worth it to keep a log even if it is a pain because it is the one piece of taxpayer generated info that the IRS has to accept.As I thought there is talk of putting the unemployment extension together with the extension of Bush tax cuts. Still waiting for something to be done.On a personal note, my daughter has been getting almost straight As this semester in middle school (Got a B+ in PE; oh well) and finished a project for science last night (with a little painting help from her dad) that I think is fantastic. She is making a frontier town that is similar to a cell in the body with different features that mirror a cell’s functions. She used clay and wood and other stuff to put it together. She has a picture of it on her Ipod and if I can figure out how to put on the computer I’ll show you next week.
Brian’s Tax Musings
Heard a scary piece on the news this morning. People who have terminal illnesses and have over a million dollars in assets are considering dying before the end of 2010 so their heirs won’t have to pay estate tax! There is no estate tax in 2010, but starting in 2011 only $1,000,000 in assets is excluded and you could pay up to 55% in tax on the excess assets unless congress and the president do something to change tax law soon. Talk was to extend 2009 exclusion of $3,500,000 per person for 2011 and 2012, but so far nothing. Except talk as usual.
Brian’s Misc Musings
We lost a great one yesterday in Leslie Neilsen. Two of my favorite lines in the movies were from airplane (I don’t remember them exactly, so I’m paraphrasing here) ” Surely you’re joking? I’m not joking and don’t call me Shirley!” and “Tell the captain we have to land the plane now, this women has to go to the hospital!” “The hospital! What is it, Doctor?” “It’s a big building with patients, but that isn’t important now!” Always loved the way he started as a leading man in the 50s, 60s and early 70′s, then turned to comedy and really made a mark for himself.We are still waiting for congress to do something about the expiring Bush tax cuts. A lot of talk so far, but nothing has been done. I’m sure people will find a way to tie expiring unemployment benefits to the cuts, but we will see.I am not an investment advisor and don’t claim to be (although I did have my series 7 and 66 securities licenses at one time); I use an investment newsletter for my stock selections. Something I do tell people is that to be successful over time in stocks is to limit your losses and know [...]