THJ TAX TIPS - 2011 Income Taxes

March 8, 2012

WINTER 2012 VOLUME XXXI, NO 1

 

THJ TAX TIPS WILL NO LONGER BE MAILED, BUT WILL BE AVAILABLE ON THJTAX.COM AND VIA AN EMAIL LIST THAT IS BEING COMPLETED.  VISIT WWW.THJTAX.COM FOR THE LATEST TAX ISSUES.

 

Welcome to a New Year, A continued RECESSION, and the question,

 

When will things get better?

 

The Euro problems gaining is Europe is getting worst!  Somehow it is very similar to the 1932 2nd Recession “Punch” that started us on the road to WW II.   Our economy has suffered from the Housing crisis, decreased production (We make nothing), Banking issues. Now, a big crisis is looming in the Education Loans.   Deflation, Stagflation. We all might want to look at Japan’s Economy for the last 10 years, and how it has changed living within those borders.  Many regulations were not enforced.  What is new will be the increased enforcement of Tax laws, and those enforcement actions will fall on you!  Expect your preparer to not only ask questions, but for you to have prove those deductions to him/her.

Taxes are due no later than, April 17th, 2012 (Tuesday), extended due to DC holiday over the weekend follows followed by that holiday recognized on Monday.

  • Due Dates (Important Reminders)

  • Tax Law Changes for 2011 Federal Tax Returns

CALIFORNIA’S tax situation continues to get worst & collection efforts are at an all time high, our New Gov. is telling the Truth, “EXPECT A LOT OF PAIN”. Maybe (Californian’s) could Expect a delay in your refund, and you  should consider changing your DE-4.  Amended returns could take up to 12 months. There are no longer any areas to CUT!  So the IRS/FTB will be reviewing the last 3 years (2009-2011) taxes and question any GREY areas.  Look for reform, from Pension to pay scales and benefits.  Your BEST DEFENSE is to keep all and any receipts and document everything!

  • What's new for 2012?

  • Visit FTB.CA.GOV and see the top 250 tax Deliquencies

IT IS MY JOB TO ENSURE THAT I KEEP UP WITH THE LATEST IN TAX ISSUES.  BUT IT IS ALSO IMPORTANT THAT WE UNDERSTAND THE POLITICS BEHIND THESE TAX POLICY AND THOSE THAT SET THE RULE.  SOMETIMES, THOSE RULES ARE SET VERY HIGH, THAT THOSE THAT SET IT HEIGHT CAN’T EVEN MEET IT.  SO PLEASE TAKE THE TIME TO VOTE AND KNOW WHAT YOU VOTE FOR.

 

SOMETHING TO THINK ABOUT, THIS STATEMENT BY CHIEF TWO EAGLES:

 

“Where white man went wrong”

 

Indian Chief , “Two eagles” was asked by a white U.S. government official, “You have observed the white man for 90 years.  You’ve seen his wars and his technological advances.  You’ve seen his progress, and the damage he’s done.”

 

The Chief nodded in agreement.

 

The official continued, “Considering all these events, in your opinion, where did the white man go wrong?

 

The Chief stared at the government official then replied.  “When white man find land, Indians running it, no taxes, no debt, plenty buffalo, plenty beaver, clean water.  Women did all the work, Medicine man free.  Indian man spend all hunting and fishing; all night having sex.”

 

Then the Chief leaned back and smiled, “Only white man dumb enough to think he could improve system like that”

 

THANKS FOR READING MY TAX TIPS.

 

SEMPER FI,  (USMC, FOREVER FAITHFUL)

 

THOMAS H JENKINS

 

A THANKS TO THOSE THAT CAME FORWORD AND THOSE THAT HELDBACK.  IT WAS THAT SCALE THAT MAKES US A DEMOCRACY

 

27TH MARINES 68-69
MABS-13, MAG-13, 1ST MAW 69-70

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