Our Taxing Times

Emotional Lie

I recently read a new book on marketing called  "All Marketers are Liars" by Seth Godin. (I should have an Amazon link to the right soon). The idea of the book is that every product/business should have real or implied story(a "lie") behind it that makes people want that product or service over the competition. It made me think about the story behind my service. Am I telling the story I want people to hear or do I need to make some changes? I want to re-read the book and then do some serious thinking about MITC.

Tax Reforms

According to my Kiplinger Tax Letter, the Tax Reform Panel have started to put out some ideas of what may be in their report (due July 31). A supplemental sales tax and income tax with fewer tax brackets is a more likely alternative to getting rid of income tax completely. Something will be done with AMT but most likely not repeal of it. Look to lose deductions like the deduction for state and local taxes. Don't look for any quick  changes. By the time the Treasury Department completes a draft and the President sends it to Congress, it will be 2006. Then the fun begins.

Interesting tax facts

Just a few tax facts that I did not know.
Fast Compay article

What Part of No?

This time of year I don't get very many calls or visitors. I spend the day reading and working on projects. After clients, the biggest part of the calls and visitors are sales people who want something, money usually, from me. Some of the sales reps are good. They get to the point, make their pitch, respect my decision, and hang up/leave after thanking me for my time. But...

I forgot!

I just realized that I had never posted an entry about getting my Enrolled Agent Status renewed for three more years. I guess that means I need to replace my business cards. I bought too many originally and have not add the initials EA to my name. Yet. I will do that and see if I can add my graphic to the cards too.

It's Back!!

Last year there was an attempt to pass a tax preparer licensing.. The whole bill was huge, the Senate tripled the size of the bill after the House passed it. When it got back to the House they tried to make changes and the whole thing died. It is now back - Senate Bill 832 . Not the whole bill from last year, just some of the parts that pertain to tax preparing.
The basic idea is that all paid preparers will be licensed after passing a test and then be required to take continuing ed to keep up their licensing. There are some concerns about they way it is worded this year will confuse people as to the distinguish between EAs (like me) and licensed preparers.
The bill also get tough on people who offer RALS. It spells out all the information which has to be disclosed to anyone wanting a refund loan. Not a problem since that is what I am already doing. It also takes the fine for failure to sign and failure to put your id number on the return from $50 to $500(each)(each return).
For the most part, I am for the bill and getting rid of the flyby night people in the pawn shops and car dealerships. That will depend on the definition of "paid preparer". We will see