Tax Time Preps

You can’t live 70+ years – filing tax returns for 57 years – and not learn a thing or three about how to make tax-time easier.

Since most of the major brokerage firms will have their data ready for import into  tax software programs in a week or two, I sat down and started the annual process.

Like a lot of small office/home office (SOHO) filers there are some simple steps to  “getting it right” I’ve never written down, before.

We’ll get to it after a few headlines on climate, Trump’s SoU, and a discussion of how the charts are looking…Oh and the blow-out jobs report.

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29 thoughts on “Tax Time Preps”

  1. Rut Row G –
    China’s Tencent Company – large tech/internet posted 2 sets of numbers over the weekend regards the Wuhan Zombie Pneumonia. First post listed Confirmed Cases @ 153,023/ Suspected Cases @79,808..and Deaths @24,589.
    These statistics were taken down soon after being posted and replaced with figures that reflect the Guvments official stats. The original virus infection stats reflects very closely to what that UK virologist/researcher predicted run rate of 250,000 cases in China by Feb 4,2020

    Shout out to our GREAT POTUS – I wouldnt shake nasty nancys hand with a glove on for a million bucks. A literal disgrace to the Nation, but Leader of the Libs…hmmm

    ECD tax prep consists of calling greatest Jewish accountant in the world(imho) and dropping off manila envelopes stuffed with forms. This is followed soonly by phone calls from said greatest Jewish account usually yelling and or screaming about all the different ways I f-ed up his day with all my BS. Man I luv this of year…

    • Tencent may have accidentally leaked real data on Wuhan virus deaths

      Tencent briefly lists 154,023 infections and 24,589 deaths from Wuhan coronavirus

      https://www.taiwannews.com.tw/en/news/3871594
      __________________________

      The Tencent conglomerate is the Chinese equivalent of Google, Facebook, JP Morgan, and Apple, rolled into one company. They are a huge information clearinghouse and one of the world’s largest VC firms.

      Tencent has twice “blipped” “unapproved” numbers for 2019-nCoV to the open Internet, before “correcting” their coronavirus information page to reflect the “official” Chinese Government numbers. Not being able to read Mandarin or Jian Ti, I haven’t felt motivated to browse their website to find the info page. However, the folks at Taiwan News are on the prowl…

      Unfortunately, like other information from any controlled environment, there’s no way of knowing whether this is significant or meaningful, or has any bearing on anything, let alone fact…

      • “Tencent briefly lists 154,023 infections and 24,589 deaths from Wuhan coronavirus”

        phew… infectious for twelve days before you notice the symptoms.. times x… people you meet daily.. ten percent infection passing.. that could explode quickly.. I can see why every infectious disease organization is scrambling…
        we seen the same thing when fukishima happened. it is still a mess to this day to..

      • https://www.taiwannews.com.tw/en/news/3872448

        https://www.taiwannews.com.tw/en/news/3870739

        interesting.. how many other leaders are not publicly visible… with the video that has gone viral.. saying that everyone should stay indoors.. how long before it gets out of hand enough that they have to admit it is a global pandemic.. when we will know for sure is when the govt. places the us on a mandatory marshal law on.. and everyone is to stay inside.. then we will know for sure..

  2. As an addition to your Second Thoughts section today over at Shadow Stats they’ve had a running report that “Fourth-Quarter Cass Freight Index Showed Its Worst Collapse in Annual Freight Activity Since the Great Recession”.

    On the Cass Freight Index website you can see that, while expenditures for shipping are still above the December 2016 recorded figures, the December 2019 shipments are below that of December 2016. We’re buying less “stuff” because it costs more than it used to. Is it possible that income isn’t keeping up with inflation?? Mebbe so, mebbe no.

    • Or, the other things – and I have harped on this FOREVER – in the digital age we just don’t need as much (sh*t) to keep our lives going. I don’t need a robotic lawnmower – I’m fat and need the exercise. We all need to exercise – like we did before cars.

      • We’ve got HOUSES full of stuff from the past 3+ generations, much of which is still being used in one way or another. I love the durability of the old stuff but despair over our contribution to the land fills of all the new stuff. I shake my head in wonder at how fast we fill up our trash cans every week. At least that’s SOME exercise.

  3. When driving according to all known laws, I’m still scanning the rearview mirrors and everywhere else. Driving and doing virtually anything in a public space has become a cash cow for so many jurisdictions that I feel like a criminal with no known crime. I imagine this is what our president has to deal with constantly.

    I would never file a tax return that doesn’t have a tax preparer’s or accountant’s signature on it, regardless of its simplicity or complexity. It’s not worth the angst in a potential audit. Having a lower and verifiable income seems to be the best way to avoid this, and it maximizes free time for non-financial utility. Others won’t agree and prefer to play the game.

    • Me too.
      All this when you consider that the 16th amendment was not Constitutionally ratified, and is therefore null, void and of no effect.
      We are being extorted!

    • “I would never file a tax return that doesn’t have a tax preparer’s or accountant’s signature on it, regardless of its simplicity or complexity. ”

      ME EITHER… I know I could probably claim more exemptions.. or get more in a return.. but I would rather know I am safe than to even tempt the IRS from coming at me.. I don’t have the funds to debate any issues with them for one..

  4. G – Dog its time to look surprised..

    Surprised that a Halving event is coming to BTC to ruin price decline predictions soonly?

    Back of napkin says Halving event will REDUCE new Bitcoin supply by 50%
    To repeat for the short bus folks – REDUCE Supply of New Bitcoin by 50%

    Wait for it…The Halving event will take BTC’s Inflation rate BELOW that of GOLD and the Not Federal Reserves 2.0% Inflation target.

    What chu talking bout Willis? Taxes ? what Taxes? coiners dont pay no Taxes on their digital currency – what an absurd thought that is – do U pay taxes on Ure paper currency ? Didnt think so..

    Forget the digital age – Clay, Abacus, and Chalkboard is all U need.

    As I always say …No Bitcoin 4 U!

      • Ditch ‘dem Tesla shares!

        As chance would have it, the US Marshalls Service website has a page dedicated to its upcoming auction to be held on Feb. 18th of 4+ million bitcoins gathered from various forfeitures and seizures from former owners.

        Bids will be accepted only in USD. Instructions advise that the winning bidder must not be a terrorist nor supply an obscene delivery address.

      • THE US GOVERNMENT WILL TREAT BITCOIN…JUST LIKE THEY TREATED THE LIBERTY DOLLAR….DEEM IT ILLEGAL…….and close down all coinbase exchanges….the us gov does not like competition

  5. George, So much info on the Corona Virus, both accurate and inaccurate makes craziness the order of the day as it is impossible for the layman to know which way to turn.
    My question on this asks, if one contracts the Wuhan Corona virus and properly quarantined for the 14 day period, medically treated and is pronounced cured or clear of the virus, does this apparent success confer any sort of immunity to future re-infection by the virus?
    I read a great deal and have not yet found this question addressed.
    If, as stated, the virus turns out to be a recombinant form, would a cured victim have to hide away somewhere to keep from being re-infected or could they resume their life in relative safety?

    • I don’t think I’ve seen that but I will note it when it comes along. May just be too early. All the recovered could keel over next year from some leftover effect…

    • I’ve read somewhat credible rumors that a patient could have a complete recovery yet remain shedding the virus and becoming a carrier. The jury’s out on this one. Most likely, the virus will be immunosuppressed after a while (14 days+-). That means it could remain in your system like the Herpes virus, with further manifestations as you age. I’m convinced that this virus really is a recombinant one synthesized in a lab – too many convergent rumors along with the Indian paper. I hope and pray that it will become less aggressive with time and mutation, yet I’m still adding to my supplies. Unless you’ve tried living a normal life while maintaining a relatively sterile living space, you have no idea how much work it is. Relative won’t work with this one – it’s virulent and highly infective. Corners WILL be cut and you’d best plan on surviving the virus, while avoiding it to the best of your ability. IMHO, the longer you can keep it out of your system, the more chance it has to mutate to a less virulent state. Unfortunately, that means that normal life may come to a stop for a while at least.,

  6. We have reached peak-stuff, as George has pointed out.

    My family loves thrift shopping. I spend hours in goodwills and the like. There is a place called “goodwill bins” where they just put the crap out in big rolling table-bins, the size of king size beds.

    In the last 6 months or so, I’ve noticed a few new trends:
    * The place is always packed. This is easy to see, the parking lot is finite.
    * There are opportunists galore, scanning book barcodes, and picking out movies, or electronics for resale.
    * My daughters gather fancy clothes for resale, and have been very successful. They always have a hundred dollars credit at the fancy resale shoppe.

    I was at a superbowl party, no less than 5 big screen TVs throughout the house. This friend gave me an “old” one months ago. Now I have 5 in my house. All 1080i+ quality. My large family set is several years old. I don’t need any more, unless I want a bigger one.

    My cars are both over 5 years old, not wearing out any time soon.

    I replaced the flooring in my house, and all the windows. I’ll probably never have to do that again.

    We are up to our eyeballs in stuff. I can’t even sell my collection of spendy high quality audio speakers because people don’t even care about large objects like that anymore.

    Think of all the objects replaced by your phone: flashlight, calendar, hi-fi audio, TV, computer, camera, video camera, and so forth. Nobody gonna fill a train with iPhones.

  7. I think VP Pence’s quip about not knowing whether Pelosi was tearing up the speech or the Constitution will go down as surpassing Reagan’s remark about Mondale’s youth and inexperience.

  8. Coronavirus update, Looks like this was pre planed. Here you can see what was coming in plain view, This was 2 months before the current out break, Important Please watch this. Selected moments from the Event 201 pandemic tabletop exercise hosted by The Johns Hopkins Center for Health Security in partnership with the World Economic Forum and the Bill and Melinda Gates Foundation on October 18, 2019, in New York, NY. The exercise illustrated the pandemic preparedness efforts needed to diminish the large-scale economic and societal consequences of a severe pandemic.

    Drawing from actual events, Event 201 identifies important policy issues and preparedness challenges that could be solved with sufficient political will and attention. These issues were designed in a narrative to engage and educate the participants and the audience. https://www.youtube.com/watch?v=AoLw-Q8X174 There are 5 more parts to this on youtube This is unfolding in real time exactly as they said,

  9. FEDCON .. sounds good .. the new bonds .. picked it up 12 months ago how they inject in the system .. George you are wrong on everything lately .. gold , oil fake virus, fake presidents , fake markets .. it worries me that you were the last hope and you are gone dark side .. indeed there is nobody left.. biggest culprit that stupid old egomaniac salty moriarty .. Richard russel would have given him a serve

  10. a disgrace anything out of USSA and further anyone involved in markets .. should be made to take lie detector tests.. im not religious and I hate politics but I hope there is some sort of god or force that pays back everyone what they deserve

  11. imagine the sell off in bonds when the sheep and geese realise they are worthless .. this is it

  12. and further .. arch Crawford .. give me a break .. 25 years hearing his wank alien or horoscope stories .. wake up to yourselves germany , oops , USSA

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