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All good ideas to change the outcomes of our failed educational system. The best of these incorporate the free market, that is competition.
Our public school system has failed our students, and will continue to do so if the community doesn't step in and make changes like the ones brought forward in this article. Basically though it will be the parents that make the difference in how the system is fixed.
But the problem here is, and has always been the problem, a lot of parents can't make the connection between success and failure as being determined by their lack of participation on their part in their children's education. Parents have to care and understand they are what will change the system.
Five Pathways to Fundamentally Reshaping American Schooling
Source: Jal Mehta, "The Futures of School Reform: Five Pathways to Fundamentally Reshaping American Schooling," American Enterprise Institute, November 14, 2012
November 27, 2012
The American education system is plagued with failed reform attempts that seek to correct the decline in student achievement, says Jal Mehta of the American Enterprise Institute.
•In the past, reformers have experimented with standards, vouchers, charters, merit pay and other methods for increasing student achievement.
•However, huge numbers of students -- nearly 40 percent to 50 percent in some urban districts -- don't graduate from high school.
•Furthermore, the United States ranks 14th in reading, 17th in science and 25th in math on international standardized tests.
There are five broad avenues that policymakers could take in order to make lasting changes to the educational system for the better.
First, transform the system by making the teaching profession more professional.
•Right now, the United States draws its teachers from the bottom two thirds of the distribution and gives them little training on the best methods for teaching.
•Instead, requirements for teaching should be tougher which would attract more skilled workers.
Second, replace traditional institutions with new actors such as charter schools. These schools currently provide competition to the traditional public school system but receive less support.
Third, rather than have a school that offers math, science, English and history, have a school function as a general contractor, bringing in different organizations that excel in teaching the various subjects. Some of these subjects might be taught online rather than in person, or through a combination of online practice and in-person coaching.
Fourth, create an out-of-school system that complements what children learn in school.
•Studies show that some students experience a "summer learning loss" that puts them behind their peers.
•Instead, an educational system that uses a student's free time outside of the classroom to reinforce concepts learned in school can help close the gap in student achievement.
Finally, dissolving the current system may do more in preparing students than any other option. Schools that teach from old textbooks fail to take into account how much information a student has at their fingertips with a computer. Employing committees comprised of adults at the state, district and school level can decide what should be taught at schools.
27 Kasım 2012 Salı
Middle Class Businesses Crushed by New Tax : Obama's Profit Tax
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Think about this for a few minutes, 39% of small business are considered 'middle class' and they are the biggest producer of jobs in our country.
Mr Obama's tax on the rich brings these small businesses under the gun as they make over $250K, they are not millionaires or billionaires, but out of this $250K, they will use this to sustain themselves and grow the business.
The new tax rate will be nearly 44% or more which will force these small businesses to lay off or fire people just to stay afloat. Not to mention ObamaCare that will take what's left of any operating revenue the business might have.
Please explain to me why anyone, knowingly, would vote such a calamity?
Tax Hikes over $250k: End of the Upper Middle Class?
Source: Jacqueline Leo, "Tax Hikes over $250k: End of the Upper Middle Class?" Fiscal Times, November 13, 2012.
November 27, 2012
After winning a second term, the Obama administration plans to push forward with a tax hike on high income Americans. The current concerns over the fiscal cliff threshold have initiated faster actions, says the Fiscal Times.
Obama wants to start the tax hikes for those making $250,000 or more. This figure also includes working couples who have a combined income of $250,000. The tax increases on high-income earners would deliver about $42 billion in 2013. The increase will create a small 0.1 percent drag on gross domestic product (GDP), according to the Congressional Budget Office. However, the real cost might be much steeper.
No doubt, by most measures, a $250,000 household income is a large sum. Indeed, it is five times the national average -- just 2.9 percent of couples earn that much or more. However, one must also be cognizant of the cost of living in different regions.
•$250,000 is a lot of money -- especially if you live in, say Peoria, Illinois.
•But if you live in or around New York City, Los Angeles, San Francisco, Boston, Chicago or Dallas, you're not rich -- you're simply what is known as "upper middle class," according to Roberton Williams, an analyst at the Tax Policy Center.
•According to Salary.com, the cost of living in New York, for example, is 105.7 percent higher than in Peoria.
A theoretical working couple earning $250,000 annually, who also lives in a region with a high cost of living, has numerous financial responsibilities ranging from college and graduate school debt to housing costs in expensive areas.
•Two years ago, the Fiscal Times asked BDO USA, a national tax accounting firm, to compute the total state, local and federal tax burden of a hypothetical two-career couple with two kids, earning $250,000.
•To factor in varying state and local taxes, as well as drastically different costs of living, BDO placed the couple in seven different locales around the country with top-notch public school districts, using national government data on spending.
•The findings reflect that life is not an easy journey for working families earning $250,000.
•Even with an additional $3,000 in investment income, couples end up in the red -- after taxes, saving for retirement and their children's education, and a middle-of-the-road cost of living -- in seven out of the eight communities in the analysis.
Mr Obama's tax on the rich brings these small businesses under the gun as they make over $250K, they are not millionaires or billionaires, but out of this $250K, they will use this to sustain themselves and grow the business.
The new tax rate will be nearly 44% or more which will force these small businesses to lay off or fire people just to stay afloat. Not to mention ObamaCare that will take what's left of any operating revenue the business might have.
Please explain to me why anyone, knowingly, would vote such a calamity?
Tax Hikes over $250k: End of the Upper Middle Class?
Source: Jacqueline Leo, "Tax Hikes over $250k: End of the Upper Middle Class?" Fiscal Times, November 13, 2012.
November 27, 2012
After winning a second term, the Obama administration plans to push forward with a tax hike on high income Americans. The current concerns over the fiscal cliff threshold have initiated faster actions, says the Fiscal Times.
Obama wants to start the tax hikes for those making $250,000 or more. This figure also includes working couples who have a combined income of $250,000. The tax increases on high-income earners would deliver about $42 billion in 2013. The increase will create a small 0.1 percent drag on gross domestic product (GDP), according to the Congressional Budget Office. However, the real cost might be much steeper.
No doubt, by most measures, a $250,000 household income is a large sum. Indeed, it is five times the national average -- just 2.9 percent of couples earn that much or more. However, one must also be cognizant of the cost of living in different regions.
•$250,000 is a lot of money -- especially if you live in, say Peoria, Illinois.
•But if you live in or around New York City, Los Angeles, San Francisco, Boston, Chicago or Dallas, you're not rich -- you're simply what is known as "upper middle class," according to Roberton Williams, an analyst at the Tax Policy Center.
•According to Salary.com, the cost of living in New York, for example, is 105.7 percent higher than in Peoria.
A theoretical working couple earning $250,000 annually, who also lives in a region with a high cost of living, has numerous financial responsibilities ranging from college and graduate school debt to housing costs in expensive areas.
•Two years ago, the Fiscal Times asked BDO USA, a national tax accounting firm, to compute the total state, local and federal tax burden of a hypothetical two-career couple with two kids, earning $250,000.
•To factor in varying state and local taxes, as well as drastically different costs of living, BDO placed the couple in seven different locales around the country with top-notch public school districts, using national government data on spending.
•The findings reflect that life is not an easy journey for working families earning $250,000.
•Even with an additional $3,000 in investment income, couples end up in the red -- after taxes, saving for retirement and their children's education, and a middle-of-the-road cost of living -- in seven out of the eight communities in the analysis.
Employers Opt for High Deductable Insurance : Employee Assunes Some Risk
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This makes a lot of sense - why shouldn't the employee assume some of the risks of daily life? If the risks are assumed by the individual they will take more care of themselves if no other reason other then to save money on the deductibles.
It works. I have been doing this for years. It's called taking responsibility for your own actions. Who knew?
More Employers Embrace High-Deductible Health Plans to Pare Costs
Source: "More Employers Embrace High-Deductible Health Plans to Pare Costs," Los Angeles Times, November 14, 2012
November 27, 2012
Consumer-directed health plans are gaining popularity as many employers are beginning to offer them in an effort to reduce health care costs, says the Los Angeles Times.
•Employers prefer consumer-directed health plans because they are about 20 percent cheaper than preferred-provider organization (PPO) plans.
•The cost of a high-deductible medical plan with a health savings account is $7,833 annually per employee compared to $10,007 for a PPO plan.
•Thirty-six percent of large employers offer consumer-directed, high-deductible health plans, compared to only 14 percent five years ago.
•Enrollment in those plans has risen to 16 percent of all covered employees, compared to only 5 percent in 2007.
Under new federal rules, the minimum deductible for these plans with a health savings account is $2,500. Because of the shift, health benefit costs per employee have only risen by 4.1 percent, the smallest increase since 1997. Employers nationwide expect a 5 percent increase in health benefit costs next year.
Some experts contend that the lower costs are a result of employers shifting more of the costs on to workers and the patients postponing care and out-of-pocket medical expenses.
It works. I have been doing this for years. It's called taking responsibility for your own actions. Who knew?
More Employers Embrace High-Deductible Health Plans to Pare Costs
Source: "More Employers Embrace High-Deductible Health Plans to Pare Costs," Los Angeles Times, November 14, 2012
November 27, 2012
Consumer-directed health plans are gaining popularity as many employers are beginning to offer them in an effort to reduce health care costs, says the Los Angeles Times.
•Employers prefer consumer-directed health plans because they are about 20 percent cheaper than preferred-provider organization (PPO) plans.
•The cost of a high-deductible medical plan with a health savings account is $7,833 annually per employee compared to $10,007 for a PPO plan.
•Thirty-six percent of large employers offer consumer-directed, high-deductible health plans, compared to only 14 percent five years ago.
•Enrollment in those plans has risen to 16 percent of all covered employees, compared to only 5 percent in 2007.
Under new federal rules, the minimum deductible for these plans with a health savings account is $2,500. Because of the shift, health benefit costs per employee have only risen by 4.1 percent, the smallest increase since 1997. Employers nationwide expect a 5 percent increase in health benefit costs next year.
Some experts contend that the lower costs are a result of employers shifting more of the costs on to workers and the patients postponing care and out-of-pocket medical expenses.
Get ready for the new year with January's Tax Due Date Reminders!
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The staff at Holdsworth & Co. joins you in saying goodbye to 2011 and ringing in a healthy and prosperous 2012!
Thanks for visiting our recently launched blogsite. As we begin the new year, we want to help keep you on course with a list of tax due date reminders for January. We're happy to answer any of your questions and are just a phone call away.
The staff at Holdsworth & Co. joins you in saying goodbye to 2011 and ringing in a healthy and prosperous 2012!
Thanks for visiting our recently launched blogsite. As we begin the new year, we want to help keep you on course with a list of tax due date reminders for January. We're happy to answer any of your questions and are just a phone call away.
| January 10 | Employees - who work for tips. If you received $20 or more in tips during December, report them to your employer. You can use Form 4070, Employee's Report of Tips to Employer. |
| January 17 | Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in December 2011.Individuals - Make a payment of your estimated tax for 2011 if you did not pay your income tax for the year through withholding (or did not pay in enough tax that way). Use Form 1040-ES. This is the final installment date for 2011 estimated tax. However, you do not have to make this payment if you file your 2011 return (Form 1040) and pay any tax due by January 31, 2012.Employers - Nonpayroll Withholding. If the monthly deposit rule applies, deposit the tax for payments in December 2011.Farmers and Fishermen - Pay your estimated tax for 2011 using Form 1040-ES. You have until April 17 to file your 2011 income tax return (Form 1040). If you do not pay your estimated tax by January 17, you must file your 2011 return and pay any tax due by March 1, 2012, to avoid an estimated tax penalty. |
| January 31 | Employers - Give your employees their copies of Form W-2 for 2011 by January 31, 2012. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31.Businesses - Give annual information statements to recipients of 1099 payments made during 2011.Employers - Federal unemployment tax. File Form 940 for 2011. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. However, if you already deposited the tax for the year in full and on time, you have until February 10 to file the return.Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2011. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until February 10 to file the return.Employers - Nonpayroll taxes. File Form 945 to report income tax withheld for 2011 on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 10 to file the return.Individuals - who must make estimated tax payments. If you did not pay your last installment of estimated tax by January 17, you may choose (but are not required) to file your income tax return (Form 1040) for 2011. Filing your return and paying any tax due by January 31 prevents any penalty for late payment of last installment.Payers of Gambling Winnings - If you either paid reportable gambling winnings or withheld income tax from gambling winnings, give the winners their copies of Form W-2G.Certain Small Employers - File Form 944 to report Social Security and Medicare taxes and withheld income tax for 2011. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is $2,500 or more from 2011 but less than $2,500 for the fourth quarter, deposit any undeposited tax or pay it in full with a timely filed return. |
Discover Your Pot o' Gold...in Your Tax Deductible Vacation!
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Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally deduct every dime that he spent on his "vacation". Here's how he did it.
1. Make all your business appointments before you leave for your trip.
Most people believe that they can go on vacation and simply hand out their business cards in order to make the trip deductible.
Wrong.
You must have at least one business appointment before you leave in order to establish the "prior set business purpose" required by the IRS. Keeping this in mind, before he left for his trip, Tim set up appointments with business colleagues in the various cities that he planned to visit.
Let's say Tim is a manufacturer of green office products looking to expand his business and distribute more product. One possible way to establish business contacts--if he doesn't already have them--is to place advertisements looking for distributors in newspapers in each location he plans to visit. He could then interview those who respond when he gets to the business destination.
In order to deduct all of your on-the-road business expenses, you must be traveling on business. The IRS states that travel expenses are 100% deductible as long as your trip is business related and you are traveling away from your regular place of business longer than an ordinary day's work and you need to sleep or rest to meet the demands of your work while away from home.
For every day you are on business travel, you can deduct 100% of lodging, tips, car rentals, and 50% of your food. Tim spends three days meeting with potential distributors. If he spends $50 a day for food, he can deduct 50% of this amount, or $25.
If you have a business day on Friday and another one on Monday, you can deduct all on-the-road expenses during the weekend.
The IRS says that you can deduct transportation expenses if business is the primary purpose of the trip. A majority of days in the trip must be for business activities, otherwise, you cannot make any transportation deductions.
Since Tim accrued six business days, he could spend another five days having fun and still deduct all his transportation to San Diego. The reason is that the majority of the days were business days (six out of eleven). However, he can only deduct six days worth of lodging, dry cleaning, shoe shines, and tips. The important point is that Tim would be spending money on lodging, airfare, and food, but now most of his expenses will become deductible.
Consult us before you plan your next trip. We'll show you the right way to legally deduct your vacation when you combine it with business. Bon Voyage!
Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally deduct every dime that he spent on his "vacation". Here's how he did it.
1. Make all your business appointments before you leave for your trip.
Most people believe that they can go on vacation and simply hand out their business cards in order to make the trip deductible.
Wrong.
You must have at least one business appointment before you leave in order to establish the "prior set business purpose" required by the IRS. Keeping this in mind, before he left for his trip, Tim set up appointments with business colleagues in the various cities that he planned to visit.
Let's say Tim is a manufacturer of green office products looking to expand his business and distribute more product. One possible way to establish business contacts--if he doesn't already have them--is to place advertisements looking for distributors in newspapers in each location he plans to visit. He could then interview those who respond when he gets to the business destination.
In order to deduct all of your on-the-road business expenses, you must be traveling on business. The IRS states that travel expenses are 100% deductible as long as your trip is business related and you are traveling away from your regular place of business longer than an ordinary day's work and you need to sleep or rest to meet the demands of your work while away from home.
For every day you are on business travel, you can deduct 100% of lodging, tips, car rentals, and 50% of your food. Tim spends three days meeting with potential distributors. If he spends $50 a day for food, he can deduct 50% of this amount, or $25.
If you have a business day on Friday and another one on Monday, you can deduct all on-the-road expenses during the weekend.
The IRS says that you can deduct transportation expenses if business is the primary purpose of the trip. A majority of days in the trip must be for business activities, otherwise, you cannot make any transportation deductions.
Since Tim accrued six business days, he could spend another five days having fun and still deduct all his transportation to San Diego. The reason is that the majority of the days were business days (six out of eleven). However, he can only deduct six days worth of lodging, dry cleaning, shoe shines, and tips. The important point is that Tim would be spending money on lodging, airfare, and food, but now most of his expenses will become deductible.
Consult us before you plan your next trip. We'll show you the right way to legally deduct your vacation when you combine it with business. Bon Voyage!
 |
| Dublin, Ireland |
Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally deduct every dime that he spent on his "vacation". Here's how he did it.
1. Make all your business appointments before you leave for your trip.
Most people believe that they can go on vacation and simply hand out their business cards in order to make the trip deductible.
Wrong.
You must have at least one business appointment before you leave in order to establish the "prior set business purpose" required by the IRS. Keeping this in mind, before he left for his trip, Tim set up appointments with business colleagues in the various cities that he planned to visit.
Let's say Tim is a manufacturer of green office products looking to expand his business and distribute more product. One possible way to establish business contacts--if he doesn't already have them--is to place advertisements looking for distributors in newspapers in each location he plans to visit. He could then interview those who respond when he gets to the business destination.
Example: Tim wants to vacation in Hawaii. If he places several advertisements for distributors, or contacts some of his downline distributors to perform a presentation, then the IRS would accept his trip for business.
Tip: It would be vital for Tim to document this business purpose by keeping a copy of the advertisement and all correspondence along with noting what appointments he will have in his diary.2. Make Sure your Trip is All "Business Travel."
In order to deduct all of your on-the-road business expenses, you must be traveling on business. The IRS states that travel expenses are 100% deductible as long as your trip is business related and you are traveling away from your regular place of business longer than an ordinary day's work and you need to sleep or rest to meet the demands of your work while away from home.
Example: Tim wanted to go to a regional meeting in Boston, which is only a one-hour drive from his home. If he were to sleep in the hotel where the meeting will be held (in order to avoid possible automobile and traffic problems), his overnight stay qualifies as business travel in the eyes of the IRS.
Tip: Remember: You don't need to live far away to be on business travel. If you have a good reason for sleeping at your destination, you could live a couple of miles away and still be on travel status.3. Make sure that you deduct all of your on-the-road -expenses for each day you're away.
For every day you are on business travel, you can deduct 100% of lodging, tips, car rentals, and 50% of your food. Tim spends three days meeting with potential distributors. If he spends $50 a day for food, he can deduct 50% of this amount, or $25.
Tip:The IRS doesn't require receipts for travel expense under $75 per expense--except for lodging.
Example: If Tim pays $6 for drinks an the plane, $6.95 for breakfast, $12.00 for lunch, $50 for dinner, he does not need receipts for anything since each item was under $75.
Tip: He would, however, need to document these items in your diary. A good tax diary is essential in order to audit-proof your records. Adequate documentation shall consist of amount, date, place and business reason for the expense.
Example: If, however, Tim stays in the Bates Motel and spends $22 on lodging, will he need a receipt? The answer is yes. You need receipts for all paid lodging.
Tip: Not only are your on-the-road expenses deductible from your trip, but also all laundry, shoe shines, manicures, and dry-cleaning costs for clothes worn on the trip. Thus, your first dry cleaning bill that you incur when you get home will be fully deductible. Make sure that you keep the dry cleaning receipt and have your clothing dry cleaned within a day or two of getting home.4. Sandwich weekends between business days.
If you have a business day on Friday and another one on Monday, you can deduct all on-the-road expenses during the weekend.
Example: Tim makes business appointments in Florida on Friday and one on the following Monday. Even though he has no business on Saturday and Sunday, he may deduct on-the-road business expenses incurred during the weekend.5. Make the majority of your trip days business days.
The IRS says that you can deduct transportation expenses if business is the primary purpose of the trip. A majority of days in the trip must be for business activities, otherwise, you cannot make any transportation deductions.
Example: Tim spends six days in San Diego. He leaves early on Thursday morning. He had a seminar on Friday and meets with distributors on Monday and flies home on Tuesday, taking the last flight of the day home after playing a complete round of golf. How many days are considered business days?All of them. Thursday is a business day, since it includes traveling - even if the rest of the day is spent at the beach. Friday is a business day because he had a seminar. Monday is a business day because he met with prospects and distributors in pre-arranged appointments. Saturday and Sunday are sandwiched between business days, so they count, and Tuesday is a travel day.
Since Tim accrued six business days, he could spend another five days having fun and still deduct all his transportation to San Diego. The reason is that the majority of the days were business days (six out of eleven). However, he can only deduct six days worth of lodging, dry cleaning, shoe shines, and tips. The important point is that Tim would be spending money on lodging, airfare, and food, but now most of his expenses will become deductible.
Consult us before you plan your next trip. We'll show you the right way to legally deduct your vacation when you combine it with business. Bon Voyage!
Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legally deduct every dime that he spent on his "vacation". Here's how he did it.
1. Make all your business appointments before you leave for your trip.
Most people believe that they can go on vacation and simply hand out their business cards in order to make the trip deductible.
Wrong.
You must have at least one business appointment before you leave in order to establish the "prior set business purpose" required by the IRS. Keeping this in mind, before he left for his trip, Tim set up appointments with business colleagues in the various cities that he planned to visit.
Let's say Tim is a manufacturer of green office products looking to expand his business and distribute more product. One possible way to establish business contacts--if he doesn't already have them--is to place advertisements looking for distributors in newspapers in each location he plans to visit. He could then interview those who respond when he gets to the business destination.
Example: Tim wants to vacation in Hawaii. If he places several advertisements for distributors, or contacts some of his downline distributors to perform a presentation, then the IRS would accept his trip for business.
Tip: It would be vital for Tim to document this business purpose by keeping a copy of the advertisement and all correspondence along with noting what appointments he will have in his diary.2. Make Sure your Trip is All "Business Travel."
In order to deduct all of your on-the-road business expenses, you must be traveling on business. The IRS states that travel expenses are 100% deductible as long as your trip is business related and you are traveling away from your regular place of business longer than an ordinary day's work and you need to sleep or rest to meet the demands of your work while away from home.
Example: Tim wanted to go to a regional meeting in Boston, which is only a one-hour drive from his home. If he were to sleep in the hotel where the meeting will be held (in order to avoid possible automobile and traffic problems), his overnight stay qualifies as business travel in the eyes of the IRS.
Tip: Remember: You don't need to live far away to be on business travel. If you have a good reason for sleeping at your destination, you could live a couple of miles away and still be on travel status.3. Make sure that you deduct all of your on-the-road -expenses for each day you're away.
For every day you are on business travel, you can deduct 100% of lodging, tips, car rentals, and 50% of your food. Tim spends three days meeting with potential distributors. If he spends $50 a day for food, he can deduct 50% of this amount, or $25.
Tip:The IRS doesn't require receipts for travel expense under $75 per expense--except for lodging.
Example: If Tim pays $6 for drinks an the plane, $6.95 for breakfast, $12.00 for lunch, $50 for dinner, he does not need receipts for anything since each item was under $75.
Tip: He would, however, need to document these items in your diary. A good tax diary is essential in order to audit-proof your records. Adequate documentation shall consist of amount, date, place and business reason for the expense.
Example: If, however, Tim stays in the Bates Motel and spends $22 on lodging, will he need a receipt? The answer is yes. You need receipts for all paid lodging.
Tip: Not only are your on-the-road expenses deductible from your trip, but also all laundry, shoe shines, manicures, and dry-cleaning costs for clothes worn on the trip. Thus, your first dry cleaning bill that you incur when you get home will be fully deductible. Make sure that you keep the dry cleaning receipt and have your clothing dry cleaned within a day or two of getting home.4. Sandwich weekends between business days.
If you have a business day on Friday and another one on Monday, you can deduct all on-the-road expenses during the weekend.
Example: Tim makes business appointments in Florida on Friday and one on the following Monday. Even though he has no business on Saturday and Sunday, he may deduct on-the-road business expenses incurred during the weekend.5. Make the majority of your trip days business days.
The IRS says that you can deduct transportation expenses if business is the primary purpose of the trip. A majority of days in the trip must be for business activities, otherwise, you cannot make any transportation deductions.
Example: Tim spends six days in San Diego. He leaves early on Thursday morning. He had a seminar on Friday and meets with distributors on Monday and flies home on Tuesday, taking the last flight of the day home after playing a complete round of golf. How many days are considered business days?All of them. Thursday is a business day, since it includes traveling - even if the rest of the day is spent at the beach. Friday is a business day because he had a seminar. Monday is a business day because he met with prospects and distributors in pre-arranged appointments. Saturday and Sunday are sandwiched between business days, so they count, and Tuesday is a travel day.
Since Tim accrued six business days, he could spend another five days having fun and still deduct all his transportation to San Diego. The reason is that the majority of the days were business days (six out of eleven). However, he can only deduct six days worth of lodging, dry cleaning, shoe shines, and tips. The important point is that Tim would be spending money on lodging, airfare, and food, but now most of his expenses will become deductible.
Consult us before you plan your next trip. We'll show you the right way to legally deduct your vacation when you combine it with business. Bon Voyage!
26 Kasım 2012 Pazartesi
Progressives' Climate Change Runs Wild, Again
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It not enough that the frustration over the reelection of Mr Obama and those who did the voting, but now we seem to be headed back into the insanity of climate change. With a huge of recorded history showing man-made climate change is a fraud, completely riff with managed facts and out right lies. The storm Sandy has supposedly given the nutjobs a legitimate reason to scream and wave their arms over climate change.
But it seems history and the facts have little or no effect on the progressive socialist environmentalists who what more control over the population to bring about their agenda of slowing expansion and taking all of us back to the late 19th century living standards.
Of course, this will not be for them, only you and me. They believe someone has lead the ignorant into the new world of less.
Carbon Tax Will Kill the Economy, Boost Inflation
Source: Steve Milloy, "Carbon Tax Will Kill the Economy, Boost Inflation," Investor's Business Daily, November 13, 2012.
November 19, 2012
Many climate alarmists are hoping to use Hurricane Sandy and the re-election of President Obama to spur Congressional action on climate change. The purpose of the tax is to penalize the use of fossil fuel in order to reduce emissions. Many environmental groups are lobbying for a deal on a carbon tax. However, it is unlikely the tax will have any effect other than an inflationary one, says Steve Milloy in Investor's Business Daily.
•Assume that the United States emits 6 billion metric tons of carbon dioxide (CO2) a year and 40 percent of it accumulates in the atmosphere.
•The United States adds about 0.31 parts per million (ppm) of CO2 to the atmosphere annually.
•Even if the United States reduced all emissions as of 2013, by 2100 the United States would avoid adding 27 ppm of CO2.
•However, this is miniscule compared to the fact that the current level of CO2 in the atmosphere is 391 ppm.
•Moreover, the Environmental Protection Agency estimates that CO2 in the atmosphere could range from 450 ppm to 950 ppm.
Even if the tax were somehow able to cut all emissions, it wouldn't be enough to offset CO2 levels to curb the effects of global warming. This is especially true considering that other countries like China and India will continue to emit high levels of CO2 despite U.S. policies.
More importantly, the economic impacts far outweigh any benefits derived from taxing emissions. Goods and services like gas and electricity will become much more expensive. Meanwhile, the purchasing power of the dollar will decline, creating a phenomenon many people are familiar with: inflation.
But it seems history and the facts have little or no effect on the progressive socialist environmentalists who what more control over the population to bring about their agenda of slowing expansion and taking all of us back to the late 19th century living standards.
Of course, this will not be for them, only you and me. They believe someone has lead the ignorant into the new world of less.
Carbon Tax Will Kill the Economy, Boost Inflation
Source: Steve Milloy, "Carbon Tax Will Kill the Economy, Boost Inflation," Investor's Business Daily, November 13, 2012.
November 19, 2012
Many climate alarmists are hoping to use Hurricane Sandy and the re-election of President Obama to spur Congressional action on climate change. The purpose of the tax is to penalize the use of fossil fuel in order to reduce emissions. Many environmental groups are lobbying for a deal on a carbon tax. However, it is unlikely the tax will have any effect other than an inflationary one, says Steve Milloy in Investor's Business Daily.
•Assume that the United States emits 6 billion metric tons of carbon dioxide (CO2) a year and 40 percent of it accumulates in the atmosphere.
•The United States adds about 0.31 parts per million (ppm) of CO2 to the atmosphere annually.
•Even if the United States reduced all emissions as of 2013, by 2100 the United States would avoid adding 27 ppm of CO2.
•However, this is miniscule compared to the fact that the current level of CO2 in the atmosphere is 391 ppm.
•Moreover, the Environmental Protection Agency estimates that CO2 in the atmosphere could range from 450 ppm to 950 ppm.
Even if the tax were somehow able to cut all emissions, it wouldn't be enough to offset CO2 levels to curb the effects of global warming. This is especially true considering that other countries like China and India will continue to emit high levels of CO2 despite U.S. policies.
More importantly, the economic impacts far outweigh any benefits derived from taxing emissions. Goods and services like gas and electricity will become much more expensive. Meanwhile, the purchasing power of the dollar will decline, creating a phenomenon many people are familiar with: inflation.
Affordabel Care Act (ACA), ObamaCare, Doctor Numbers Explode
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Just think on this for a few minutes, 30 million more people participating in the health care system which for many of them will be free and, as this article points out, the aging population and the new immigrants streaming into the country ever day will force doctors to make decisions on who they see and when, and whether they say in the practice of medicine at all.
It's a guarantee that costs will increase geometrically. It is projected to be more then 1.6 trillion added to the debt for health care alone over the next 10 years. I wonder who will be able to pay for all new stuff with U6 unemployment nearing 20%?
But the bright spot in all this is the 'Death Panel' that will eliminate a lot of people that aren't worth keeping alive. I just hope it isn't one of my family that's found to be worthless. How about one of your family?
Projecting U.S. Primary Care Physician Workforce Needs: 2010-2025
Source: Stephen M. Petterson et al., "Projecting U.S. Primary Care Physician Workforce Needs: 2010-2025," Annals of Family Medicine, November/December 2012.
November 26, 2012
Researchers in the Annals of Family Medicine sought to project the number of primary care physicians required to meet U.S. health care needs through 2025 after passage of the Affordable Care Act.
They used the Medical Expenditure Panel Survey to calculate the use of office-based primary care in 2008. They also used U.S. Census Bureau projections to account for demographic changes and the American Medical Association's Masterfile to calculate the number of primary care physicians and determine the number of visits per physician.
•Driven by population growth and aging, the total number of office visits to primary care physicians is projected to increase from 462 million in 2008 to 565 million in 2025.
•After incorporating insurance expansion, the United States will require nearly 52,000 additional primary care physicians by 2025.
•Population growth will be the largest driver, accounting for 33,000 additional physicians, while 10,000 additional physicians will be needed to accommodate population aging.
•Insurance expansion will require more than 8,000 additional physicians, a 3 percent increase in the current workforce.
It's a guarantee that costs will increase geometrically. It is projected to be more then 1.6 trillion added to the debt for health care alone over the next 10 years. I wonder who will be able to pay for all new stuff with U6 unemployment nearing 20%?
But the bright spot in all this is the 'Death Panel' that will eliminate a lot of people that aren't worth keeping alive. I just hope it isn't one of my family that's found to be worthless. How about one of your family?
Projecting U.S. Primary Care Physician Workforce Needs: 2010-2025
Source: Stephen M. Petterson et al., "Projecting U.S. Primary Care Physician Workforce Needs: 2010-2025," Annals of Family Medicine, November/December 2012.
November 26, 2012
Researchers in the Annals of Family Medicine sought to project the number of primary care physicians required to meet U.S. health care needs through 2025 after passage of the Affordable Care Act.
They used the Medical Expenditure Panel Survey to calculate the use of office-based primary care in 2008. They also used U.S. Census Bureau projections to account for demographic changes and the American Medical Association's Masterfile to calculate the number of primary care physicians and determine the number of visits per physician.
•Driven by population growth and aging, the total number of office visits to primary care physicians is projected to increase from 462 million in 2008 to 565 million in 2025.
•After incorporating insurance expansion, the United States will require nearly 52,000 additional primary care physicians by 2025.
•Population growth will be the largest driver, accounting for 33,000 additional physicians, while 10,000 additional physicians will be needed to accommodate population aging.
•Insurance expansion will require more than 8,000 additional physicians, a 3 percent increase in the current workforce.
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