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» Update 6/27/13
Thu Jun 27, 2013 4:48 pm by MichaelG

» Ready to start
Sun Dec 09, 2012 2:08 pm by MichaelG

» Tax Return time coming soon
Tue Nov 06, 2012 10:11 am by MichaelG

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Sat Feb 04, 2012 11:39 pm by MichaelG

» Info Update 1/17/12 @ 10:05pm
Wed Jan 18, 2012 2:13 am by bjm6961

» Closing TY2011
Fri Dec 30, 2011 11:00 am by Boopski

» Info Update 12/23/11 @ 11:05am
Fri Dec 30, 2011 9:16 am by MichaelG

» Info Update 12/15/11 @ 8:35am
Fri Dec 16, 2011 7:27 pm by Mlowe

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Closing TY2011

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Closing TY2011

Post by MichaelG on Fri Dec 30, 2011 9:30 am

A great question was raised when talking to a member about closing the books on TY 2011.

Why pass new tax codes and have new forms if we do not cash in this year, 2011, and have to worry with taxation for the year?

Tax presidence. These new codes and forms are in place or are being written to be affective for the TY2011. The UST has until January 17th to have these forms in place or at least posted, they can ammend them at any time. Here is how it works. Everyone files their taxes for the 2011 year and don't realize that the new codes and forms are in place, simply because they don't affect us this year. Say we cash in on January 2nd, pay our quarterly taxes by April 15th as we are supposed to do, then we file our taxes for TY 2012 next year. WHOA! Mr. IRS, what are these new forms and taxes I have to pay and file? Their response, "Those codes and forms have been in place, you just never had to file them before now so did not realize they existed. NEXT?"

Fact of the matter is, everyone files, noone complaines, presidence is set. Not that we can do anything about it anyway. But that is how they shove new codes upon us and we re-elect the same idiots to the same offices. I guess ignorance is bliss, untile your in chains.

BTW, write your congressman and tell them they better vote against the "Green Climate Fund Tax". It is a tax on all currency transactions, about 20%, to go to the UN in order to research how to keep our planet green. I wonder who is filling their pockets with that tax, oops, I mean researching to save the planet.

More as it comes in.

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Re: Closing TY2011

Post by Boopski on Fri Dec 30, 2011 11:00 am

Thank you Michael. Happy New Year and may we all have a prosperous 2012, unless of course, we get to have a prosperous 2011. In that event - WOO HOO cheers

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