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Joetaxpayer
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Two years ago, I saw a banner at the window of an H&R Block storefront, asking "Turbo GPS got you lost?" It's amazing to see two companies go at each other like this. There's a place for a software package, and a place for a live person, one size doesn't fit all. I've been writing at the TurboTax Blog, and just authored my first article at H&R Block's Blog, Blocktalk. So it's in my own best interest to be Switzerland, just hoping for all to get along.
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Don't forget property tax. Our tax bill runs an annual July - June, so as the year is ending, I know what I owe for the first half of the next year. And if I am in the odd year, when I'll itemize, it may be worth paying my Q4 bill (due 11/1) in the next January, I'd have 3% late fees, but if this made it deductible, why not? This scheme might take an annual $4000 tax bill, and let you alternate between a $1000 payment in odd years and $7000 payment in even years. A bit of effort for this and the other deductions, but one that would pay off every other year when you itemize.
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It was clear early on that Jim Lehrer lost control early on. Neither candidate stopped when asked to, and Jim just acquiesced. POTUS failed to ask some of the tough questions, one of which I asked Romney myself - Where are the returns for the last five years? If I were Obama, I might have been a bit more aggressive as in "What are you hiding?" To be fair, Romney exceeded expectations, perhaps the bar was set so low he hurdled over it by not putting his foot in his mouth. I am biased, so I'll not pick a winner. The losers were Big Bird (Fired by Romney. But maybe a winner as his plight became a cause celebre), Jim Lehrer, (Fired by Romney, and a poor job overall), Donald Trump (Big, only in his own mind, but according to POTUS, a small business man), and last, the person tweeting for KitchenAidUSA (Of all things, s/he tweeted a negative Obama remark from the KitchenAid Twitter account instead of his/her own. Goodbye to that job.)
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I agree, and understand most of the article here. I'm still curious what 10 year recent period showed 6%+ for the S&P. This a mistake or a typo?
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I think those who jump on Obama for his syntax (that's the issue here, not the content of his speech) expose their own ignorance. And somewhere, Sister Mary Ignatius is scratching her head that her students, now grown up are not able to diagram his sentences. Unfortunately, Romney's "I'm not concerned about the very poor" never got much better. At best, he has a mistaken belief that the programs in place to help the poor are actually sufficient.
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In the big picture, this is the best time to kill this deduction. With the 30 year fixed at 4% or less, the mortgage on a median home will be $120K, and interest the first year, under $5000. Kill this, the state tax deduction and more but bump the exemption and standard deduction, and we'd be looking at some simplification that would benefit all of us.
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Art - more than simple language, I'd like more transparency. For the record, I am anti-VA. The few prospectuses I've seen were for products that underperformed no matter what the market. When pro-VA folk (the salesmen) write how great the products are, I say "send me a prospectus to read." And then I never see a response. If these products are so wonderful, what are they hiding? Why not allow anyone to simply download the prospectus on line? A simple example would be to show the return of the product next to the returns of gov bonds and S&P index.
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Jun 30, 2012