Monday, March 12, 2012
Taxes and Why I hate Congress
So, I got off the phone yesterday with my CPA of thirty years, Bill Blount. The good news, we get $8500 back from the Feds and $2500 from California. The bad news, we fall into the Alternative Minimum Tax hell and have some outside income from consulting and so on, so our refunds will be applied to our quarterly estimates for federal taxes and California taxes next year. When the Tea Party and Occupy Wall Street finally figure out the real culprits in this country are Congress and the Administration, there will be hell to pay. With California sales tax, property tax, federal and state taxes, we are paying 50 percent in taxes. When 49.5 percent in this country not paying any federal income tax, we have a problem.
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