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THIS IS MOST IMPORTANT

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  • consulttherock
    While we render unto Caesar, we must be responsble stewards of our LORD S money. HE provides us with what we need, as HE knows how much we can handle:
    Message 1 of 1 , Aug 26, 2010
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      While we render unto Caesar, we must be responsble stewards of our LORD'S money. HE provides us with what we need, as HE knows how much we can handle: 1Corinthians 4:2. While thinking on this, an urgent matter has arisen due to the wickedness of our present leadership: Luke 4:6, Ephesians 6, Luke 11, Matthew 23, Luke 22:2, 52, 66; Mark 14:1, 15:1, etc. For some of you, you must PLAN if you are going to minimize satan's blow vs. your finances. Taxation is plunder. That is NOT to say that we are to avoid paying our taxes. That destroys the testimony. In the same breath, I will say that we are RESPONSIBLE for paying the least possible income tax. I say that because I was ripped off by "preparers" working for HR Block in the 1970s. As some of you know, my blogs are, in part, devoted to exposing unscrupulous preparers and showing how I can reduce { and in many instances} your Federal income taxes substantially. All but 7 States have State income tax, so in the majority of situations, this saves the taxpayer a little on State income tax parallelwise. Now for my topic of today:
      Please don't forget to tell your friends and loved ones about my great, politically incorrect blogs! I want to get an idea on how many I may count on to speak to at seminars. Please maintain contact and spread the word! I am an expert on many subjects of deep interest and/or concern - including Federal income taxes; how HR Block and JakSIN dimwitt and all the large income tax "preparers" rip you off; Psychology: The World's Most Deadly cult; Constitutional law; how to tell if a product or service is worth it to you; how to avoid being ripped off; I expose pyramid schemes; I expose ripoffs which includes many ripoffs by Federal, local and State government bodies; conspiracies, Economics, death insurance; how to save money; what you must know if you are traveling to a foreign country; what you must know if you are emigrating to the United States. I desire to tudor regarding how to speak proper English; give seminars on how to write and communicate proper English in the business world; Proofreading; how to remember numbers; nutrition; Bible and the many, many topics of fascination therein; numismatics; I expose the lies of the press and many other subjects of necessity with many of deep interest. I show you what to do about collection agencies {they have no right to your money, legally or morally!} I answer questions about the reputability of many companies and government agencies you know. The answers are going to surprise you.

      YOU NEED MY ADVICE!!!
      Retired Enrolled Agent coming out of retirement:
      Please don't forget to tell your friends and loved ones about my great, politically incorrect blogs! I want to get an idea on how many I may count on to speak to at seminars. Please maintain contact and spread the word! I am an expert on many subjects of deep interest and/or concern - including Federal income taxes; how HR Block and Jack-SIN Hewitt and all the large income tax "preparers" rip you off.
      For the moment, I am going to speak on taxation. You are not yet aware that you must plan ahead now more than ever. I can help you avoid or minimize the impact of AMT, which is alternative minimum tax.
      Psychology: The World's Deadliest cult; how to tell if a product or service is worth it to you; how to avoid being ripped off; I expose pyramid schemes; I expose ripoffs which includes many ripoffs by Federal, local and State government bodies; conspiracies, Economics, "life" insurance - one of the most monstrous ripoffs on the planet; how to save money; what you must know if you are traveling to a foreign country; what you must know if you are emigrating to the United States; what you must know if you have an internet penpal. I desire to tutor regarding how to speak proper English; give seminars on how to write and communicate proper English in the business world; Proofreading; how to remember numbers; nutrition; Bible and the many, many topics of fascination therein; numismatics; I expose the lies of the press and many other subjects of necessity with many of deep interest. I answer questions about the reputability of many companies and government agencies you know. The answers are going to surprise you.
      But something more immediate has occurred: Obama's health plan will destroy your finances with hidden taxes. Obama's health care plan is even worse than the mass murder it is going to bring. Obama goes along with the radical left wing extreme fanatic lunatic environmental mass murder humanity haters. That's what environmentalists are. Liberals always bear false witness and never call a Bill, proclamation, proposed fiat law or abomination what it really is. See my blogs which I have not included this yet but will very shortly. You need to study this and alert ALL of your friends, loved ones, peers and acquaintances:
      http://www.jesus-is-savior.com/Evils%20in%20Government/AIDS%20and%20Population%20Elimination/holocaust_wish.htm

      I will be doing seminars exposing the environmental movement for what it really is. You should have an idea as environmentalists are ALWAYS concerned about the animals, air, plant life, water. They never are concerned about the deaths of humans. By their fruits, ye shall know them: Matthew 7:16-20. That which hath been is to be, and that which is to be hath already occurred. And GOD requireth that which is past: Ecclesiastes 3:15. Something like that. The LORD means that you leave a trail wherever you go. No man can conceal himself: Numbers 32:23.
      But what I want to talk about now is the dramatic rise you are going to see in your Federal income taxes. As all States that have income tax, with the exception of Alabama, New Hampshire and Tennessee, base their calculation of their income tax on you by using Federal adjusted gross income as their starting point - that means your State income taxes are going to rise also.
      I want to do seminars on taxes now because January 1, 2011 is coming very soon. If you are going to avoid or minimize the heavy impact of these income tax rises and new income taxes, you have to prepare. I will give you a good example:
      You pay capital gains tax on the GAIN when you sell real estate, commodities, stock, rare coins, bonds that are not tax free, royalties, patents, copyrights, rare art, Ginnie Maes { don't try it!!}, derivatives {don't try these, either!} and so on. However, there are very few situations in which you may write off a CAPITAL LOSS the same tax year. Hence, if you do not plan, you will be devastated. You could conceivably GAIN and LOSE one, two, three hundred thousand or more in stock market, etc, transactions. If you do not plan, you could pay tax on the gain. If you wait until the following year to sell an investment {or investments} to roughly balance out, YOU CANNOT BALANCE THE GAIN WITH THE LOSS THAT YOU HAD. YOU MUST, MUST PLAN AHEAD. A gain of 100,000 is taxed the same year {chronological or fiscal} that you sell the investment. {ISOs can be different: they are tricky and you can be saddled with an awful tax burden if you do not know the IRS Code on that situation.} If you wait until the following year to sell an investment in which you lost 300,000 as an example, you CANNOT subtract the loss from the gain, which would have balanced the transactions out thusly paying zero or nearly zero in extra Federal income taxes. Do you know what that means? You may only write off 3000 in losses in any given year {1500 if you file MFS [married filing separately]. That means, by being as little as 2 days off, you cost yourself 118,800.00 if you are in the 39.6% income tax bracket!!! { Unless the former President Bush tax cuts are extended, the 35% tax bracket will become a 39.6% tax bracket. I will be covering ALL of this in my seminars.} In this example, in waiting until January 2 to sell a losing stock, you are in two different income tax years {unless you have a business and use a fiscal year that is not a chronological year}. But you need ONE HUNDRED YEARS to write off 300,000 in capital losses. A tiny bit of tax planning would have avoided this very expensive error.
      New Federal income taxes that are coming with this monstrous rationing of medical care {it is NOT "health care" !!!} include:
      - Bracket increases.
      10% bracket reverts to 15%
      15% bracket goes back to 31%
      31% bracket becomes 33%
      33% bracket becomes 35%
      35% bracket rises to 39.6% which is where it was in 2001
      As if that wasn't terrible enough, there is much more:
      Firstly, some of you should think about having a little more Federal tax withheld until the end of this year in order to avoid penalty { if you owe 1000 or more Federal taxes, the government can assail you with a penalty} and maybe State, depending upon whether your State has income tax and dependent upon your particular situation.
      Obama has passed hefty tax increases and they are still HIDDEN from the standpoint that the Dems made sure you DID NOT KNOW that the "health care" bill is going to raise your taxes, fees, penalties for noncompliance and other maladies that space is not going to permit me to cover. This space is devoted to the tax increases that are going to happen January 1, 2011:
      - The capital gains tax is going to revert to the 2001 Federal income tax year, which was the first year that former President Bush cut your capital gains taxes. This will occur unless Congress votes to extend ex-President Bush's Federal income tax cuts.
      - If your adjusted gross income is 200,000 or higher, you will see a 3.8% "medicare tax" slapped on you in a futile attempt to bail out medicare {ain't gonna happen: medicare has a 36T to 38T unfunded liability. This tax is getting the least publicity at all. It is very insidious.
      There are more health care related income tax increases, but they will take effect in 2013, 2014 and one or two in 2016.
      There are other Federal income tax credits that will EXPIRE on January 1, 2011, unless Congress acts to extend:
      - The increased alternative minimum exemption amount will revert back to 2001 levels unless Congress acts:
      A. Your married filing jointly would revert BACK from the present 70950 to C. 45000.
      B. For singles, exemption would go back to from 46700 to c. 22,500.
      C. If you have to file married filing separately, your increased alternative minimum tax exemption amount would revert from 35475 to 10000.
      - The exclusion of 2400.00 of the unemployment compensation that you received, if any. Remember, for income tax year 2009, you were allowed to subtract 2400.00 of your unemployment compensation off from gross income.
      - The first time homebuyer credit for dwellings purchased prior to December 31, 2009.
      - If you are in business and need to buy a large chunk of equipment (s), the increased IRS "Section 179 deduction" presently allows up to a 250,000 exclusion with an investment of up to 800,000.
      - The bonus depreciation deduction for qualifying Modified Accelerated Cost Recovery System (MACRS) would expire January 1, 2011. Presently a MACRS Fifty percent bonus depreciation is allowed for property acquired after December 31, 2007 and placed in service prior to January 1, 2010 { Internal Revenue Code 168 (k). The acquisition deadline is extended for one year under certain circumstances. However only expenditures taken prior to January 1, 2010 are allowed.
      - The nonbusiness energy property credit .
      - Residential energy efficient property credit. Max of 1500.

      - The alcohol fuels tax credit
      - The low income housing credit
      - The FICA employer tip credit
      - The renewable electricity production credit
      - The business energy credit
      - The work opportunity credit {meaning fewer jobs because no incentive for employers to hire}. Internal revenue code 38 (c) (4).
      - Child Tax Credit is cut in half: maximum of $500. Adjusted gross income phase-outs remain {!!}.
      The last 6 I mentioned are credits against BOTH regular and alternative minimum income tax liability. The business energy credit applies in fiscal or calendar years beginning after October 3, 2008 AND to carryforwards of the credit {Internal Revenue Code 38 (c) (4).
      If you are going to avoid or minimize these de facto income tax increases, you must come to me and I will examine your situation and show you what you must do to prepare.
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