Tax code sounds boring, but it leads to mental Viagra.
My first blog.
Let’s be honest. The excitement factor for taxes lies somewhere between watching paint dry and listening to my mother-in-law regurgitate all the mistakes I’ve made in the last 30 years.
Taxes may be boring. But money and wealth accumulation are mental Viagra. Money leads to wealth and wealth creates options and independence.
Ruling could aid other students who want to deduct costs of getting MBA.
A Maryland nurse accomplished two rare feats in her battle with the Internal Revenue Service: She defended herself against the agency's lawyers and won, and she got a ruling that could help tens of thousands of students deduct the cost of an M.B.A. degree on their taxes.
The U.S. Tax Court handed Lori Singleton-Clarke her victory last month, saying the 47-year-old Bryantown, Md., woman had properly deducted nearly $15,000 in business school tuition.
The Tax Court ruling should make it easier for many other professionals to deduct the expense of a Master in Business Administration degree.
Washington weighing proposals to increase taxes on wealthy.
Taxes on higher income earners are getting a lot of attention, as I mentioned in my presentation to a local CPA group recently. A surtax on the wealthy, for example, is part of the House version of health care reform.
But taxes and how they are distributed has long been part of our fiscal and political landscape.
In the last presidential election, Obama set $250,000 as the threshold for defining where the tax hikes would fall. Whether you consider a quarter of a million dollars wealthy depends on a lot of things, including not just your current paycheck or Visa balance, but also your political and social points of view, as well as geography. Many folks who live in major urban areas don't see $250,000 as the wealth jackpot.
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