FEELS LIKE A SNOW JOB

http://www.forbes.com/sites/robertwood/2015/02/24/wrong-obamacare-form-tax-filers-get-relief-from-irs/

Uncle Sam (one of his very many powerful divisions) makes an error in issuing 800,000 Obamacare forms necessary to file 1040s (individual tax returns).  It seems over 50,000 of these filers have already filed using bad info.

If you or I had filed and then received a corrected 1099 or W2, we would have to amend our returns.

Not so if Uncle Sam makes the error.  If you have already filed, there is no need to file an amended return.  It is optional if it would mean a greater refund to you.

What?

Is Uncle Sam so large that he can make an error, correct the error and forgive the inconvience?

Is there no governing of government divisions by others like maybe Congress?

Time to get out my copy of our constitution.  Maybe this is ligit.  Maybe every part of Uncle Sam can do whatever it wants and then forgive any debt owed to......owed to? 

Owed to WE THE PEOPLE!

'til later

Big Brother

Net Neutrality will equal regulations and taxes.  Big Brother has always regulated and taxed followed by subsidizing.

Example:  Cell phones.  Most of us pay taxes each month with our mobile phone bill.  We know they are regulated and some fear also tracked.  Then when the poor and elderly complained that the expenses were
too much for them, Big Brother provided smart phone.

Our taxes pay for the regulations and subsidizing.  Very predictable.

Today I ask about my little blog.  I have not made $1 from what I write.  I have very few people who have ever logged in and read my ramblings.

Net Neutrality will open the door for my little blog to be regulated and taxed.  It will mean the end to my little blog. 

I am upset that Congress will not have opportunity to hear details before the big vote (not theirs) which will start the wheels.  The Internet will be a utility from now on.  Regulated, taxes, and subsidized.

'til later

Medicare

Bob will be 65 in July.  We have started the process of registering him for Medicare.  Evidently it's something you have to do within a few months of turning 65.  The process is on line.  The good thing is we can stop and then sign back on to continue.  This is what we have done.

Even though Bob is not taking Social Security until age 66, he has to register for Medicare.  We currently purchase our health care coverage through his pension at a cost of nearly $5,000 per year. 

I will be 63 in June.  As far as we understand now, we will purchase supplemental coverage for Bob and full coverage for me through his pension.  We think my coverage will be the same as was established at the beginning of the year.

We have checked with our primary physician group.  They do not accept new patients with Medicare coverage but will accept old patients.  So far it seems we will get to keep our doctors. 

Bob has steady work right now so we will not have a day free to finish our on line registration until next week.  Grateful for the work.  He has been very busy for 2 weeks now and will not have time off until May 22 - June 2.  It's great.  His winter months were very quiet.

'til later

First Quarter

The First Quarter of 2014 is complete.  You may be receiving quarter end statements from your investments and IRAs. 

I work part time during tax season for an accounting firm across town.  You might be surprised how many of our clients bring their quarterly statements in along with their year end documents.  We need the year end documents to gather such things as dividends and taxable gains, taxable numbers.  Generally we do not need quarterly statements.

The big surprise is the number of these statements that are still in sealed envelopes.  The clients simply toss them into a file and bring them to the accountant in the winter.  Unopened statements.

I strongly suggest you open your statements.  See what has been going on in these accounts.  Call your adviser or the fund itself if you have questions. 

It has been said that no one, absolutely no one, will care about your financial situation more than you do.  Not one other person in this world cares if your investments are growing or even appropriate for you and your risk tolerance. 

Plenty of people including advisers care about how they can benefit from your investments.  Bob and I make our own decisions regarding investments and holdings.  We look at each quarterly statement and discuss how each is doing. 

We subscribe to one newsletter than promotes investing in mutual funds.  The author has 4 suggested plans based on risk tolerance and stage in life.  We subscribe to the least risky plan with some variances.  We are in the middle of liquidating one holding and dispersing that $ to 2 other funds. 

That may sound like the decision is complete and the paperwork in the mail but that's not the truth.  We have yet to complete the paperwork.  We have removed the $ from the holding our newsletter author suggested but have not made the move into other bond funds.  We laugh that we talk a lot before we move. 

Once tax season is over, we will complete the paperwork and make the final step in our $ move.

'til later

Calendar

I am so 'old school'.  I have a small pocket calendar I carry in my purse.  I have a larger calendar I keep right next to me at my desk.  Both show a month per page.  I have learned to use pencil on both except for birth dates. 

We have a wall calendar hanging in the kitchen.  I will admit I rarely refer to that one and I do not mark on it.  Mostly it is just for reference.  I bought it from Lang so it's pretty to look at.

Many of my friends and family keep their calendars on their phones and computers.  They claim it is more convenient and is with them most of the time.  They carry their mobile phones everywhere. 

In August Bob and I spent the big bucks and bought iPhones for each of us.  I carry mine in my purse.  At home I usually have it nearby.  I refer to it and play games on it while we watch TV in the evenings.

Maybe one of these days I will investigate its calendar.  Maybe it could work for me but I am so used to reaching for my calendar and referring so very quickly to our work schedules and future plans for trips. 

'til later

Employees

Yesterday the National Labor Relations Board determined that college players are employees.

There are a lot of talking heads on the airwaves this morning discussing the ramifications of Northwestern football players being considered employees.  Therefore, they can unionize.

It all makes for interesting discussions and questions but it all begins with the identification of these young men as employees of the university.  Most are there on scholarships.  Most will not go on to professional ball playing.  Many are seeking a first class education made available to them by their football talents.

The Internal Revenue Service has many definitions of employees versus independent contractors.  They also have penalties for the mishandling of workers by treating them as independent contractors. 

IRS:  Does the company control or have the right to control what the worker does and how the worker does his or her job?

IRS:  Are the business aspects of the worker’s job controlled by the payer? (these include things like how worker is paid, whether expenses are reimbursed, who provides tools/supplies, etc.)

IRS:  Are there written contracts or employee type benefits (i.e. pension plan, insurance, vacation pay, etc.)? Will the relationship continue and is the work performed a key aspect of the business?

The National Labor Relations Board ruling is the first step.  There are hurtles ahead for this concept. 

'til later

Ripon, Wisconsin

The Northern Republicans saw the expansion of slavery as a great evil. The first public meeting where the name "Republican" was suggested for a new anti-slavery party was held on March 20, 1854 in a schoolhouse in Ripon WI.

I have visited that small schoolhouse in Wisconsin. 

The GOP should remember their roots and continue to fight for freedom of all citizens.  I raise the banner here.

'til later