Hey Classic, why is it that if you and I commit the same crime in the same jurisdiction, and I have a better lawyer than you I will get off or get less time than you? LOL
Last night I met with 3 people that are starting a home improvement business, one of whom already owns a commercial asphalt business, and he was telling me that his CPA from last year was so negligent with his taxes that the IRS audited him for a week and they didn't even want to talk to his CPA on the matter. He ended up getting dinged for some interest and penalties, but not too much once they pieced his entire return together.
Pick your professionals carefully. Yes, some tax preparers can promise the world, and I have seen some returns that would land people in jail if they were audited. I don't know if the taxpayer even knew that when they signed the tax return. If it is too good to be true, it usually is. If one preparer can get you a much larger refund than another, you need to sit down and ask yourself why.
Anyway, this is the reason that Maryland is requiring every tax preparer to register in the state for a license if they aren't already an attorney, CPA, or enrolled agent with the IRS. The new bill passed this session also requires them to obtain a certain amount of continuing education every so often.
As far as the progressive "flat tax" that you are proposing, I definitely am not for that. That doesn't even make it fair at all. Honestly, we could accomplish the same thing right now just by using the current tax brackets and getting rid of the rest of the code.
The reason why we will never have a flat tax is because the tax code allows government to influence how we spend our money. The current code encourages things like buying a home, starting a business, remodeling a home with energy efficient windows and doors, buying a hybrid vehicle. Heck, they just passed a bill giving new home buyers a $7,500 tax credit if they buy a house before some time in 2009.
How many lobbyists do you think work on having provisions put into the tax code to favor their industry?
By the way, I'm married too, and my wife is a saint compared to me in the spending category and I thought I was pretty good about it before I met her.
__________________
The pond, waterfowl, and yellow labs...it don't get any better.
|