You might not have noticed it yet, but the first new tax from Obamacare has kicked in. Tanning salons must now collect a 10% surcharge on indoor tanning services. This new law is rumored to have been inserted in the Obamacare legislation in retaliation to the “Boob & Botox tax” which was in the [...]
In case you didn't hear. The management team of the City of Bell California gave themselves absurd salaries. The City Manager about $800k The assistant manager and police chief about $500k each. The city only has about 40,000 residents and a significant percentage are below the poverty level. The city receives a significant amount of [...]
Thinking of selling your home sometime in the next couple years? If so, consider this: In order to try and pay for all the goodies included in Obamacare, Congress created a 3.8 % Medicare surtax on investment income starting in 2013. This surtax is placed on top of the normal tax on all investment [...]
While statistically speaking your chances of being audited by the IRS are very low, It is important to prepare each tax return as if you will be audited. Having proper documentation for expenses claimed and being certain to declare all income items is far more effective if you do the work when its fresh [...]
The California Legislature is very adept at killing jobs and increasing unemployment, but this may be the only time that nobody will object. The Assembly has come to the rescue of one constituent who has a problem. It seems that his ex wife keeps hiring hit men to “off” the guy. Ex wife is [...]
Many popular tax breaks that folks have previously used to reduce their personal income taxes were either repealed or allowed to expire for 2010 and may not be around this year to help reduce your taxes. These breaks include the college tuition deduction, deductions for teaching supplies, deductions for state sales taxes, deductions for [...]
Coming in second place in most contests is not best, but it ain’t all that bad. Some notable exceptions: Wars, Ultimate Fighting, and the latest US News and World Report study of states that raised taxes the highest in 2009. Guess what? California had the second highest per capita tax increase in 2009 (right [...]
