Search found 46 matches

by Colonel_Buck
Tue Oct 17, 2017 2:38 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Avoiding state income taxes
Replies: 14
Views: 420

Avoiding state income taxes

If your legal residence is in Vancouver Washington (no state income tax) but you work in Portland Oregon (state income tax), do you have to pay Oregon state income tax?
by Colonel_Buck
Fri Aug 19, 2016 7:51 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Income taxes for a dead person
Replies: 11
Views: 832

Income taxes for a dead person

If a person dies and his estate is not large enough to cover his income tax liabilities due the next April, how are the taxes paid? Do the heirs and/or executor have to pony up the difference? If a person dies and his estate is larger than his income tax liabilities, who is responsible for making su...
by Colonel_Buck
Sat Apr 25, 2015 11:48 pm
Forum: US
Topic: The logic of Brushaber
Replies: 98
Views: 4201

Re: The logic of Brushaber

After reading this post about a 1000 times, my observations. Please correct as needed. The only 2 taxes that can pass constitutional muster as a direct tax are 1) a tax on people (capitation), and 2) a tax on real estate (property tax). From the beginning of the republic down to Pollock, the Supreme...
by Colonel_Buck
Wed Mar 04, 2015 7:26 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Son unable to claim himself as exemption
Replies: 4
Views: 1520

Son unable to claim himself as exemption

My son graduated from Oregon State University (Go Beavs!) in June of 2014 with a degree in Math shortly after turning 22. Looking at the rules for claiming full time students under the age of 24, it seems to me that my wife and I can claim him as a dependent on our joint return for tax year 2014. Bu...
by Colonel_Buck
Wed Jan 21, 2015 3:36 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Tax on accumulated wealth
Replies: 20
Views: 3130

Tax on accumulated wealth

From last nights' SOTU: "And let's close the loopholes that lead to inequality by allowing the top one percent to avoid paying taxes on their accumulated wealth." Notice he said wealth, not income. Would this be a direct tax or an indirect tax? Would it be something like "Send us X pe...
by Colonel_Buck
Tue Dec 31, 2013 2:55 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Taxable Income for Alexis?
Replies: 1
Views: 987

Taxable Income for Alexis?

More than 1,700 people have contributed more than $70,000 for Alexis Shapiro, of Cibolo, Texas, who weighs nearly 200 pounds and is gaining about 2 pounds a week because of a runaway condition called hypothalamic obesity. Is the $70,000 taxable income or will it be treated as a gift? If it is not u...
by Colonel_Buck
Sun Jun 23, 2013 1:01 am
Forum: US
Topic: Hendrickson Explains the 16th Amendment
Replies: 45
Views: 3351

Re: Hendrickson Explains the 16th Amendment

A capitation is a direct tax, and a tax on the value of real estate has also been considered a direct tax. In the Pollock case, the Supreme Court considered that a tax on the value of intangible property (such as stocks and bonds) was also a direct tax. But isn't there a difference between A) a tax...
by Colonel_Buck
Tue Jan 29, 2013 9:06 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: IRS Stopped ... In Efforts To Regulate Tax Preparers
Replies: 9
Views: 1967

Re: IRS Stopped ... In Efforts To Regulate Tax Preparers

So does this mean that I can't prepare my mother's tax return?
by Colonel_Buck
Sun Jan 27, 2013 1:07 am
Forum: Other Scams and Medical Quackery
Topic: fox79.com only
Replies: 2
Views: 1892

fox79.com only

Anybody ever hear of fox79.com? Looks like a scam to me. Talking about huge monthly incomes just for doing something on your home computer ...
by Colonel_Buck
Sat Dec 08, 2012 9:19 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: New tax rates 1/1/2013
Replies: 4
Views: 891

New tax rates 1/1/2013

When newspaper articles talk about the new tax rates going into effect on 1/1/2013, they always talk about households that make over X amount or under Y amount. Are they talking gross income or taxable income?
by Colonel_Buck
Thu Jul 19, 2012 5:04 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Will this be taxable income?
Replies: 7
Views: 1316

Will this be taxable income?

http://today.msnbc.msn.com/id/48224784/ns/today-good_news/?__utma=14933801.1617959178.1342400262.1342624990.1342670423.7&__utmb=14933801.2.10.1342670423&__utmc=14933801&__utmx=-&__utmz=14933801.1342400262.1.1.utmcsr=%28direct%29|utmccn=%28direct%29|utmcmd=%28none%29&__utmv=149338...
by Colonel_Buck
Fri May 27, 2011 6:51 am
Forum: Tax Practice & Policy and Tax Shelters
Topic: Can a Trust own property?
Replies: 4
Views: 4768

Re: Can a Trust own property?

OK, thanks guys. Most of the differences I'm seeing are of the "John R Smith" vs. "John R. Smith" variety that can be handled by the program code. But these "trust" accounts will all require some kind of manual intervention. Groan ...
by Colonel_Buck
Tue May 24, 2011 10:51 pm
Forum: Tax Practice & Policy and Tax Shelters
Topic: Can a Trust own property?
Replies: 4
Views: 4768

Can a Trust own property?

I'm in the process of trying to match borrower name from two mortgage loan systems and am starting to see names like "The John Doe Revocable Trust" and "William & Jane Smith Trust & Trustee" and Living Trust and Revocable Living Trust and Attorney in Fact. Who is the owne...
by Colonel_Buck
Sun May 22, 2011 6:38 pm
Forum: US
Topic: Taxable Income ?
Replies: 5
Views: 783

Taxable Income ?

There was a story in the paper last week about a guy that bought a house and found $45K in cash in a suitcase in the attic. Since the previous owner of the house had died, he gave the money to the previous owner's son. OK, fine ... I don't know that I would have been that generous, but ... whatever ...
by Colonel_Buck
Tue Jun 01, 2010 5:29 am
Forum: US
Topic: Peter Pappas on anti-IRS lunatics
Replies: 23
Views: 1665

Re: Peter Pappas on anti-IRS lunatics

Hot blondes come with red sports cars? Sign me up!
by Colonel_Buck
Sat May 29, 2010 3:28 pm
Forum: US
Topic: Sorry Charlie! Wages are taxable; your argument frivolous
Replies: 95
Views: 5850

Re: Sorry Charlie! Wages are taxable; your argument frivolous

One of the regulars posted a very clear explanation of this using accounting concepts. I cannot find it at the moment. Could he post it again?
by Colonel_Buck
Sun May 09, 2010 4:26 am
Forum: US
Topic: David L. Miner
Replies: 110
Views: 9727

Re: David L. Miner

never mind. found it.
by Colonel_Buck
Sun May 09, 2010 4:19 am
Forum: US
Topic: David L. Miner
Replies: 110
Views: 9727

Re: David L. Miner

(b) Cross references
For items specifically included in gross income, see part II (sec. 71 and following). For items specifically excluded from gross income, see part III (sec. 101 and following).


Where is part 3, section 101? tia
by Colonel_Buck
Tue Feb 09, 2010 4:23 am
Forum: US
Topic: MSNBC article on tax cheats
Replies: 7
Views: 813

MSNBC article on tax cheats

Al Capone This infamous mobster's name has been associated with a variety of illegal acts including bootlegging, prostitution and murder. However, only one illegal act landed Al Capone in prison - income tax evasion. Under Capone's watch as boss of the Chicago Outfit, the organization generated est...
by Colonel_Buck
Sat Jan 09, 2010 2:17 am
Forum: US
Topic: EXEMPT Logic from XjCherokee at LH - priceless
Replies: 21
Views: 2066

Re: EXEMPT Logic from XjCherokee at LH - priceless

Simplifying the tax code will never happen. Too much money is being paid to put special interest legislation in the code and more is being paid to keep it from being removed.

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