If you are an entrepreneur, then you know what I mean. Now is the time you have to ramp up your preparation of material for the annual tax return tortures the State performs on you. You have to prepare 1099s and start filing the innumerable state forms and the Federal beast. Even with no employees, just contract service providers, the burden is large. And worse, the 1099s have to be typed on special forms. You can't just print them out. That's a burden the State puts on you to save them money.
Them. You know I gripe about what they do. Each state has its own tortures. Florida, for example, requires a corporation to file just one return, but Alabama requires two. Then one must file Delaware annual reports.
Every LLC, partnership or corporation you use to structure your business properly requires more forms and returns in every state and the Federal government. I have operations in many states. I file at least 50 returns this season every year. Most are done by a skilled accountant, but I must check them and provide him the raw material. I've done all these in the past by hand, so know that's involved. I still do a few state corporate returns myself by hand. Thus I DO know what I'm talking about, unlike many pundits and journalists.
For my personal return, I do it myself by hand and have done so for many, many years. The spreadsheet does the arithmetic, but I have to alter it to reflect tax law changes.
To call this system a disgrace and unholy burden is no understatement. And it's getting worse every year. The States are as bad or worse than the Federal government. How many jobs are lost due to these burdens on the entrepreneur ?
Congress and the ruling classes of course don't care. It's part of the method for them to control us.
This economic crisis needs to precipitate a new 21st century tax revolt !
Markets
Yesterday's bounce was wimpy, so I chose not to play. I'm standing aside for now.
Word of the Day
"Snarky" - adjective [$100]
Snarky means 1. testy or irritiable; 2. (Urban Dictionary) tendency to make snide remarks.
Sentence: Bunkerman spends this season every year in a snarky mood, due to the tax preparation and filing burdens on him from the State.
Bman.....may I suggest Turbotax Home and Business
ReplyDeletelots of people suggest those to me.
ReplyDeleteFor the personal return, it would save filling out the forms. And I think it might work for the state corporate return I do myself.
But I'd have to input the numbers and then trust the program. Some people who use them have found errors.
Someday perhaps.
Here's a good one: for the Massachusetts health care mandate (a model for ObamaCare), the instructions are nine pages long.
ReplyDeleteIt's part of the Massachusetts tax return.
guess Mass. voters knew what they were doing.
ReplyDeleteBunkerman how does an indivdual run 50 businesses sir?
ReplyDeleteBud I must admit sir...when you are right you are right...try the cinammon dolce latte (2 pumps) at starbucks...beautiful....
good morning Bman !!!!!!!!!!!!!
ReplyDelete50?? yuck !!!! i have to do 4............and it's a nightmare.........i also do it Bman style...........by hand
Bman.................do you think your profiency in firearms and marksmanship ..............allow you to be a Swat team member with just a few weeks of training ??
ReplyDeleteno re swat.
ReplyDeletethey have a lot to learn & practice (situations, laws, etc) ; a friend's son is one in a local city here.
I can hit the target, though.
re 50, it's because of operations in many states.
ReplyDeleteplus some investments via LLCs, partnerhsips, etc.
i have a good movie for you Bman................the Shooter.........with mark wahlberg
ReplyDeletehave you seen it ?? it's about some conspiracies and a sniper.............lots of good gun stuff too
Bunk are silver prices about to collapse next quarter?(quarterly silver chart)?
ReplyDeletedo you have an interest in Al Swearengen's joint? if so...what are the tax consequences of pussy and drink half off during funerals?
ReplyDeleteAl Swearengen's
ReplyDelete???
Kto on jest ?
haven't seen the Shooter, will check Netflix.
ReplyDeleteBman are you going to be watching the webcast from Davos ?? some pretty interesting presentations
ReplyDeletesilver ... hmmm. will look.
ReplyDeleteIn general, I don't use quarterly charts. Daily, weekly, monthly, yearly
Looking at the chart from 1830 to 2008, to me it seems more like the pullback from a rip in 1974, than the collapse after the Hunt debacle in 1979-80.
Silver has lots of industrial uses, so it would depend on that,.
There is lots of demand for silver coins, etc, now, too.
I think no collapse near term. especially if the greatly feared inflation arises.
on the monthly, it looks like a pulback to 14-15 area is quite possible.
ReplyDeleteDavos,
ReplyDeletepuke, barf.
The ruling classes at work.
There should be demonstrations of the common man agaisnt them.
Sal my email fails everytime I open it up today...are you people in cyber attack mode sir.
ReplyDeleteBunkerman would you accept a slight tax increase for earners in your bracket sir, in order to help pay down the deficit?
ReplyDeletemfl, those deals have been done for two decades and every time the spending violates them.
ReplyDeleteBud did you try the cinnammon dolce latte yet?
ReplyDeleteuhhh Bunkerman, Mr Obama has decided to freeze spending for the next few years...come on sir...
ReplyDeletesure, and he's going to veto spending bill with earmarks of the Duchess ?
ReplyDeleteThis is boob bait for the bubbas.
no ace ...not yet ace
ReplyDeletei will soon........sounds delicous
Bunky where are the jobs...a sample of this week's k-bar to staffers...JNJ (8k) VZ (10k) WMT (11k)...you and your ruling class heros should feel great shame sir.
ReplyDeleteoh, the ruling class is sure not my heros.
ReplyDeleteI think it's ridiculous the way the big companies are shedding workers.
of course while paying the bosses millions.
ReplyDeleteBunkerman have you ever had to fire an employee because of the economy?
ReplyDeletethe grand illusion indeed mr roboto...awesom-o 4000 finding a heart...we're off to see the wizard.
ReplyDeletenope, my businesses are very recession resistant.
ReplyDeleteSome had a record year last year.
Seems to me you are just draining the common man of valuable $$$...does the name Brad Wesley mean anything to you sir?
ReplyDeletelate at night...do you wake and wonder if youve sold your sole to Beelzebub??..lol
ReplyDeleteShe's thinking about what her kids are doing
Five miles away, it's almost time for bed
They're brushing teeth and hearing one more story
And in the mirror she paints her lips bright red
She wishees she could call and say she loves them
But the bossman says no calls go out or in
So she puts on a dress that might feel pretty
If she didn't have to take it off again
She's dancin' for the groceries
She's dancin' for the rent
She's dancin' for the credit card
That she's already spent
In sequins and in laces
She's dancin' for the braces
So her kids can have a perfect smile someday
Smiling while she dances
Is the price she has to pay
They tell her in this job there is no future
So get it while you can 'cause looks don't last
There's money in those pockets for the taking
And if you do it right, it makes the time go fast
The music's loud, the drinks are mostly water
What her name is tonight, she can't recall
The business men stare at the single mother
Who's smiling while she's staring at the wall
She's dancin' for the groceries
She's dancin' for the rent
She's dancin' for the credit card
That she's already spent
In sequins and in laces
She's dancin' for the braces
So her kids can have a prefect smile someday
Smiling while she dances
Is the price she has to pay
Brad Wesley
ReplyDeletenope. ??
nope, I provide employment(indirectly) to many working class people, entrepreneurs, etc.
ReplyDeleteI flip a coin a thousand times and it always comes up heads...I spit in the wind and it changes direction...did you ever read about a frog who dreamed of being a king.
ReplyDeleteI flip a coin a thousand times and it always comes up heads...I spit in the wind and it changes direction...did you ever read about a frog who dreamed of being a king.
ReplyDeleteWhat is that, some kind of free verse ?
Uh ... maybe the coin has two heads
I have one of those.
looool
ReplyDeletebunk..are you nunchucks trained?
ReplyDeleteBunkerman how many fist fights have you been in throughout your lifetime? hand to hand combat will be key during the apocolypse...
ReplyDeletere nunchuks, nope.
ReplyDeletelong poles, yup.
re fist fights, counting sparring in boxing, dozens. a hundred, maybe.
wrestling, ditto.
more wrestling, counting practice.
ReplyDeletedisagree, mfl.
ReplyDeleteknives, swords, spears will rule when the ammo runs out.
but I have enough ammo for my lifetime, and can re-load more
or cast lead bullets.
no true knife fights.
ReplyDeletejust knife sparring, may a couple dozen times.
that adrenaline sure goes up even for sparring.
"spears will rule", indeed sir...Bunky, you having any of your spearchucker pals over for the state of the union...four more years.
ReplyDeletethat won't be till long after I'm gone, maybe a hundred years into the new dark ages.
ReplyDeletefor example, when the new ice age hits.
ReplyDeleteworld war & armagheddon to follow.
btw, the snow cover in the new ice age will make solar power a bit tough on the upkeep.
ReplyDeleteyep...knew you were a windmill man...four more years.
ReplyDeletenope on windmills
ReplyDeletenuclear.
I like to glow
;)
"I like to glow"...Sal likes to blow... does that count.
ReplyDelete