title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Tuesday, October 07, 2008
 
Palin Tax Returns

Sarah and Todd Palin have released copies of their 2006 and 2007 income tax returns, which you can download from the McCain website. 


I took a quick glance at the returns and had just a few comments.


I found it interesting that for both years, they had them prepared by H&R Block rather than by an expensive tax attorney or CPA, and that they e-filed.  I guess that is another part of the Palins’ bond with Joe SixPack.  I wonder if that will still be the case if she becomes VP. 


Copies of their W-2s are also included.


They claimed home office deductions for both years for Todd’s Schedule C commercial fishing business.


Some of the numbers, such as non-cash donations and vehicle miles, end in double zeroes, a sign of the SWAG method of guesstimating.


There are already stories all over the internet on how much more the Palins deducted for charitable donations than the other candidates. I don’t feel like piling on to that right now, and may discuss my opinions on that issue at a later time. 


For those even more curious about the Palins finances, the financial disclosure form on the McCain website lists many of their investments and other assets.


 

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- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/07/2008 06:05:00 PM Send this post:

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