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Post by aztecwin on Jun 24, 2014 15:41:34 GMT -8
Maybe, maybe not, but I will bet if true and you are good at your job you could lay out a simple system. It might be that for folks using "Quick Books" or something for their business, they could import the bottom line to their one page return. The schedules are the back up and not the return. Not good enough? OK, give the IRS a single entry that is a link to your Schedule C from your business or E from your RE venture. They want to question you it would not even cost them a stamp or you a worry about opening a letter from IRS. The present tax system is a night mare and not needed. Maybe, maybe not? What does that mean? Since you can buy audit protection with Turbo Tax and that you can't file until it looks like a good return and that your chance of audit is displayed for you to use, my BS filter alerted.
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Post by aztec70 on Jun 24, 2014 16:24:24 GMT -8
Maybe, maybe not? What does that mean? Since you can buy audit protection with Turbo Tax and that you can't file until it looks like a good return and that your chance of audit is displayed for you to use, my BS filter alerted. LOL I am a contractor with the audit insurance company. My most recent audit concerns a realtor. ( I have five audits going now, they want me to do more) His business is a S-Corp. The business loss was carried to his personal return via a K-1 and went to page 2 of the Sced. E. The T/P then used the same income and expenses and filled out a Sced. C and deducted the loss again. Then he saw another form that said business expenses, it was for employee business expenses so he deducted his business expenses again on the Sced A. A tax deduction trifecta. Guess what? Turbo Tax accepted the tax return, and off it went. I saw the problems as soon as I reviewed the return. Garbage in and garbage out.
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Post by aztecwin on Jun 25, 2014 12:29:15 GMT -8
Since you can buy audit protection with Turbo Tax and that you can't file until it looks like a good return and that your chance of audit is displayed for you to use, my BS filter alerted. LOL I am a contractor with the audit insurance company. My most recent audit concerns a realtor. ( I have five audits going now, they want me to do more) His business is a S-Corp. The business loss was carried to his personal return via a K-1 and went to page 2 of the Sced. E. The T/P then used the same income and expenses and filled out a Sced. C and deducted the loss again. Then he saw another form that said business expenses, it was for employee business expenses so he deducted his business expenses again on the Sced A. A tax deduction trifecta. Guess what? Turbo Tax accepted the tax return, and off it went. I saw the problems as soon as I reviewed the return. Garbage in and garbage out. Wow! Looks like that guy was no smarter than "Turbo Tax Tim Geithner". No Audit protection insurance? Would not a simplified tax code have averted these problems? Of Course! The other question is how would you design a really simple flat or fair tax system.
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Post by aztec70 on Jun 26, 2014 12:05:12 GMT -8
LOL I am a contractor with the audit insurance company. My most recent audit concerns a realtor. ( I have five audits going now, they want me to do more) His business is a S-Corp. The business loss was carried to his personal return via a K-1 and went to page 2 of the Sced. E. The T/P then used the same income and expenses and filled out a Sced. C and deducted the loss again. Then he saw another form that said business expenses, it was for employee business expenses so he deducted his business expenses again on the Sced A. A tax deduction trifecta. Guess what? Turbo Tax accepted the tax return, and off it went. I saw the problems as soon as I reviewed the return. Garbage in and garbage out. Wow! Looks like that guy was no smarter than "Turbo Tax Tim Geithner". No Audit protection insurance? Would not a simplified tax code have averted these problems? Of Course! The other question is how would you design a really simple flat or fair tax system. We have established, then, that a completely wrong tax return can be prepared, and filed, using Turbo Tax.
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Post by aztecwin on Jun 26, 2014 14:09:15 GMT -8
Wow! Looks like that guy was no smarter than "Turbo Tax Tim Geithner". No Audit protection insurance? Would not a simplified tax code have averted these problems? Of Course! The other question is how would you design a really simple flat or fair tax system. We have established, then, that a completely wrong tax return can be prepared, and filed, using Turbo Tax. Of course if you are stupid or dishonest. You can have the same problems when you use the seasonal help from some services. Using the same deductions multiple times will never hold up in an audit. Now how about you design of a simple flat or fair tax that would eliminate these problems? I laid one out and overcame what you thought were problems.
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Post by aztec70 on Jun 26, 2014 14:48:16 GMT -8
We have established, then, that a completely wrong tax return can be prepared, and filed, using Turbo Tax. Of course if you are stupid or dishonest. You can have the same problems when you use the seasonal help from some services. Using the same deductions multiple times will never hold up in an audit. Now how about you design of a simple flat or fair tax that would eliminate these problems? I laid one out and overcame what you thought were problems. I have had only one audit client that I thought was dishonest. That audit was curtailed when I told them their data was unbelievable. The rest were ignorant, but not stupid. There are no easy tax systems. If you think so then your are stupid, or ignorant. You did lay out a tax plan, but have never "overcome" the problems I saw.
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Post by aztecwin on Jun 26, 2014 15:51:32 GMT -8
Of course if you are stupid or dishonest. You can have the same problems when you use the seasonal help from some services. Using the same deductions multiple times will never hold up in an audit. Now how about you design of a simple flat or fair tax that would eliminate these problems? I laid one out and overcame what you thought were problems. I have had only one audit client that I thought was dishonest. That audit was curtailed when I told them their data was unbelievable. The rest were ignorant, but not stupid. There are no easy tax systems. If you think so then your are stupid, or ignorant. You did lay out a tax plan, but have never "overcome" the problems I saw. I can understand wanting to protect your business, but if you can't see how simple our tax system could be with no deductions etc. then you are just being dishonest about it or you are the one that is stupid.
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Post by azteccc on Jun 26, 2014 16:00:17 GMT -8
Taxes should be reformed, and they should in no way be 'flat', or even 'flatter'. The new system should and will be more graduated, similar to the income distribution function.
Anything under $100k or so should be taxed about 7-10% less than it is now, up to $1m should be taxed the same as it is now, and anything over that should be taxed at a rate about 5-7% higher than it is now. All income should be treated the exact same, regardless where it comes from.
Bonus: Cut military spending by about $250 billion a year, raise the retirement age by 4-5 years, and cap nondefense discretionary until we are running a surplus. Boom- America solved.
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Post by aztecwin on Jun 26, 2014 16:12:24 GMT -8
Taxes should be reformed, and they should in no way be 'flat', or even 'flatter'. The new system should and will be more graduated, similar to the income distribution function. Anything under $100k or so should be taxed about 7-10% less than it is now, up to $1m should be taxed the same as it is now, and anything over that should be taxed at a rate about 5-7% higher than it is now. All income should be treated the exact same, regardless where it comes from. Bonus: Cut military spending by about $250 billion a year, raise the retirement age by 4-5 years, and cap nondefense discretionary until we are running a surplus. Boom- America solved. A three tiered flat tax would work. No deductions or carve outs. Might have to think about the rates, but you are not that far off.
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Post by aztec70 on Jun 26, 2014 18:24:01 GMT -8
I have had only one audit client that I thought was dishonest. That audit was curtailed when I told them their data was unbelievable. The rest were ignorant, but not stupid. There are no easy tax systems. If you think so then your are stupid, or ignorant. You did lay out a tax plan, but have never "overcome" the problems I saw. I can understand wanting to protect your business, but if you can't see how simple our tax system could be with no deductions etc. then you are just being dishonest about it or you are the one that is stupid. LOL As I recall you did something in the hardware end of communication systems when you were in the Navy. Now I have turned radios and TVs on and off for years, but I could not chat with you about setting up communication systems. There is too much I don't know. It is the same with you, you have done your own tax return and, evidently, now think you know all about taxes. You don't.
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Post by AztecBill on Jun 27, 2014 9:41:32 GMT -8
The best step the government could take to stop money moving from the poor to the rich is to means test Social Security and stop payment to those over certain levels of wealth or income. Then take that resulting lack of need for money and stop taking SS from the first $10,000 earned.
How about it Aztec70? That would stop a huge redistribution of wealth going up the chain. Are you on board?
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Post by azteccc on Jun 27, 2014 11:34:17 GMT -8
The best step the government could take to stop money moving from the poor to the rich is to means test Social Security and stop payment to those over certain levels of wealth or income. Then take that resulting lack of need for money and stop taking SS from the first $10,000 earned. How about it Aztec70? That would stop a huge redistribution of wealth going up the chain. Are you on board? I'm not Aztec70, and the redistribution isn't as huge as you probably think it is, but yep- sign me up.
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Post by AztecBill on Jun 27, 2014 11:37:46 GMT -8
The best step the government could take to stop money moving from the poor to the rich is to means test Social Security and stop payment to those over certain levels of wealth or income. Then take that resulting lack of need for money and stop taking SS from the first $10,000 earned. How about it Aztec70? That would stop a huge redistribution of wealth going up the chain. Are you on board? I'm not Aztec70, and the redistribution isn't as huge as you probably think it is, but yep- sign me up. It is huge. 15% of the income from low wage workers goes to pay unneeded money to rich retirees. That is real redistribution. Giving a lower rate on Capital Gains is not redistribution since it: 1. Actually increases income to the government. 2. Doesn't cost the poor anything. 3. Increases the economy which helps the poor.
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Post by aztecwin on Jun 27, 2014 13:17:58 GMT -8
I can understand wanting to protect your business, but if you can't see how simple our tax system could be with no deductions etc. then you are just being dishonest about it or you are the one that is stupid. LOL As I recall you did something in the hardware end of communication systems when you were in the Navy. Now I have turned radios and TVs on and off for years, but I could not chat with you about setting up communication systems. There is too much I don't know. It is the same with you, you have done your own tax return and, evidently, now think you know all about taxes. You don't. Let me paraphrase that for you. You don't want anyone to know that you could think of a way to set up a system that would be simple and fair but just like your tax business too much. My work was as a technician and engineer, but my education is accounting. I know just enough to know it does not have to be the way it is.
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Post by aztec70 on Jun 27, 2014 14:19:17 GMT -8
LOL As I recall you did something in the hardware end of communication systems when you were in the Navy. Now I have turned radios and TVs on and off for years, but I could not chat with you about setting up communication systems. There is too much I don't know. It is the same with you, you have done your own tax return and, evidently, now think you know all about taxes. You don't. Let me paraphrase that for you. You don't want anyone to know that you could think of a way to set up a system that would be simple and fair but just like your tax business too much. My work was as a technician and engineer, but my education is accounting. I know just enough to know it does not have to be the way it is. You have an accounting degree from SDSU?
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