Carrots versus Sticks

The IRS Employs the Carrot vs. Stick Method Take a look at our Internal Revenue Code. No, really, take a good look. (You can buy it on Amazon for just $161.89: two thick paperbacks totaling 4,968 pages. You even get free Prime shipping!) At first glance, it’s all about the revenue. For FY 2019, federal income taxes should hit nearly $1.7 trillion. Payroll taxes will top $1.2 trillion. Corporate taxes, $225 billion. And estate taxes will generate somewhere around $20 billion, depending on how many billionaires die (#dropinthebucket). But taxes aren’t just about the revenue. Washington loves to use taxes to accomplish goals
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Vroom Vroom Veer – Podcast Episode

Diane Gardner is guest starred on the Vroom Vroom Veer Podcast with show host Jeff Smith. CLICK HERE TO LISTEN  Diane Gardner Vroom Veer Stories GOOD:  Changes to the Alternative Minimum Tax Mixed:  Changes to the Itemized deductions Good:  Some States are trying to work out a charitable contribution credit for the money that’s paid in for taxes. Congress is not happy with that. Good:  I have a sole proprietorship, that makes me a pass through business, What’s new with pass-through business treatment? Ugly:  meals in? and entertainment out? Good:  Hire-your-kids strategy!  YAY! Mixed:  Standard deduction was raised, most folks
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Over-the-Top Thanks for This Tax “Break”

Wall Street Throwing Parties to Dodge Taxes Wall Streeters have a lot to give thanks for this holiday season. Earnings are up, so bonuses are up. And that, in turn, means taxes are up, too. The New York Post just reported that Wall Street Bankers Are Throwing Excessive Parties To Dodge Taxes. But will the wining and dining actually put money back in their pockets? Or is the tax angle just a convenient excuse to party up a storm on the company tab? Wall Street culture rewards bankers for results. They generally start out with low fixed salaries, at least as a percentage
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LeBron James Scoffs at These Taxes

Taking Advantage of All Tax Breaks Available! If you were coaching your kid’s basketball team, you wouldn’t win many games if you told them to aim for the backboard. Your opponents might love you, but there would be at least one dad in the stands screaming at you the entire time. So why have some tax collectors given up aiming for the hoop and settled for rebounds? At first glance, the tax code looks like 70,000+ pages of incomprehensible gobbledygook. (Sometimes you really can judge a book by its cover.) But scratch the surface hard enough and you’ll find a semblance of order. Add
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Hey, Jealousy

In Finland, Everyone’s Tax Returns Are Published Reality television has introduced us all to the joy of the “big reveal.” HGTV specializes in this sort of story. The perky couple, handsome brothers, or plucky first-time homeowners spend most of an episode covered in plaster dust and paint. Then after the final commercial break, they pull back the curtain on the dream interior so viewers can feel inadequate about their own homes. (VH1’s Dating Naked did things a little backwards, with the “big reveal” up front, but still managed to wring some drama out of the format.) In Finland, tucked between the Baltic
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Accountants Behaving Badly, Part 40

Accountant Charged With ‘Theft By Swindle’ Big-league baseball players like the ones who just wrapped up the World Series enjoy careers that last 5.9 years on average, and with 162 games per year, they enjoy lots of chances to be heroes. But eventually, even the best of them hang up their cleats and join the rest of us in the real world. The lucky ones find high-profile gigs running car dealerships or calling games from the broadcast booth. But every once in a while, a former player manages to makes headlines where you’d least expect them — like working as
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