Tax Guru-Ker$tetter Letter

Thursday, October 13, 2005

Two Danville, California Doctors Arrested For Tax Evasion – The fact that I spent the first 21 years of my life in that town made this headline stand out for me. I never knew these father and son doctors who used a scheme with phony invoices and offshore accounts to defraud the income tax collectors; but they are going to pay a steep price for not using the many legitimate methods available for reducing their taxes.

Virginia Return Preparer Used the Bogus “Claim of Right” Doctrine – And now the Feds have busted him, and his retarded clients will be looking at some huge tax and penalty bills.

The Swamp Known as Tax Reform – A good time to remind everyone what tax reform efforts always result in.

The president's tax-reform panel may propose reducing the mortgage interest deduction and capital-gains exemption – If anything would cause the real estate bubble to burst, this would do it big-time. Reducing the acquisition debt ceiling from one million dollars to $350,000 would put a huge brake on home values. Let’s hope there are enough forward thinking rulers in DC to recognize this before they pass such an irresponsible reduction.

When `Harvesting' Tax Losses, How Little We Glean – When looking at large capital gains, a review of potential losses that can be claimed is a wise move.

Discount Real-Estate Brokers Spark a War Over Commissions

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/13/2005 03:09:00 PM Send this post: