Currently browsing posts found in December2009

Staples Center has offered $20 million for the upcoming Mayweather-Pacquiao fight — but they aren’t going to get it, since that would mean the fighters paying upwards of 10.55% income taxes to the state of California. Even though this event could mean millions to the economy of Los Angeles, the negative incentives are so high […]

Posted at: December 15th, 2009 - 11:52 am - Number of Comments » 0

This just in: Received an email this morning purporting to be from the IRS. The top of the email had the IRS logo (sort of) along with the following text: After the last annual calculations of your fiscal activity we have determined that you are eligible to receive 518.56$ tax refund under section 501(c) (13) […]

Posted at: December 9th, 2009 - 10:48 am - Number of Comments » 0

Resch [IRS spokesperson] reported that the qualifying purchase of the new car, light truck, motor home or motorcycle must have occurred between Feb. 17, 2009, and before the end of the year. “A person can deduct the taxes paid on up to $49,500 of the (vehicle) purchase price … regardless of whether or not the […]

Posted at: December 7th, 2009 - 11:28 am - Number of Comments » 0