News & Headlines – April 8, 2015

NEWS:

Jet pack travel might finally be in our future.

FOMC minutes to be released today.

ESPN NCAA bracket winner:  a 12 year old ineligible for prize.

US Supreme Court refuses to hear case, affirms ruling that wearing an American flag t-shirt is disruptive.

The water battle is getting uglier in CA, neighbors are encouraged to ‘snitch’ on neighbors.

As we approach tax season, some interesting beliefs and situations tax preparers have encountered:

“That they don’t have to pay any income taxes,” said Becky Neilson of Neilson Bookkeeping in Sheridan, Calif., “as the taxes are unconstitutional.”

Enrolled Agent Martha Nest of Westview Tax Services, Bardstown, Ky., also recalled:

  • “If I get a refund, I didn’t pay taxes!”
  • “‘Cash’ is not income.”
  • “I don’t have to pay taxes if I have an S-Corp,” and,
  • “Commuting is using my vehicle for business.”

“That if you’re older than 70, you don’t have to pay taxes,” added New York-based preparer Maurice Trauring, “and 90% of my clients want to deduct their dog or cat.”

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