Where is the Tax Man?

By: Zubin JB Tax Planning 1 Follower

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Is it just me or have the recent appointees to President Obama's cabinet been playing hooky with their taxes? First, it was Tim Geithner, a mastermind at the Treasury, who is going to be the savior of the economy. Now it's Tom Daschle, the guy who's going to rescue the country from the healthcare crisis.

I wonder how many more powerful, well-connected people have hidden money that we desperately need and the only reason they're disclosing it is because they're being considered for Cabinet level positions.
And you thought this article would be about shaming them. Actually, it's not.

If these whiz kids and super intellectuals are having issues with their taxes, can we really blame Joe six pack for failing to disclose income from that side job mowing lawns in the summer or shoveling snow in the winter? Let's all give the President one word of advice: Simplify, simplify, simplify. (they say if you repeat something three times, it works!). I think John McCain had a good idea when he wanted to come up with an alternative, simpler tax system.

I'm hoping Obama adopts something along the same lines. In the meantime, keep all those records from banks and brokerage firms. Remember, they have a tendency to update them and send new ones out, correcting errors on the previous ones. So, wait a while, and file your taxes in March or April. And make sure you get a good CPA!


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