Category Archives: Legislation

Tax Bill Passes: What This Means for You

Posted on December 17, 2010 by Russ

After huffing and puffing and bloviating some more, Congress passed the compromise measure extending the Bush Tax Cuts for two years. It will be signed by President Obama in the next few days. Here’s what’s in and out and what … Continue reading →

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Will They or Won’t They?

Posted on December 13, 2010 by Russ

I’m in Las Vegas (I have an audit here tomorrow morning), and it’s definitely a good locale given the fight over the Obama/GOP compromise on the Bush Tax Cuts. The 111th Congress has but a couple of weeks left, but … Continue reading →

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Compromise Reached on Taxes; Will It Pass Congress?

Posted on December 7, 2010 by Russ

Senate negotiators and President Obama reached an agreement on temporarily extending the Bush Tax Cuts for two years. Included with this will be two years of a $5 million estate tax exclusion with estates over this amount taxed at 35%. … Continue reading →

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Bush Tax Cuts Likely Will be Temporarily Extended

Posted on December 6, 2010 by Russ

It appears that there will be a temporary extension of the Bush Tax Cuts for two years. At least, that’s the direction Congress is moving in from news reports. While the House passed a motion to only approve an extension … Continue reading →

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Will Online Poker Legalization Come Out of the 111th Congress?

Posted on December 6, 2010 by Russ

The poker world is abuzz with word that Senate Majority Leader Harry Reid (D-NV) is circulating legislation that would legalize online poker in the United States. Poker newsgroups, such as 2+2, have long threads on the proposed legislation. Here’s what’s … Continue reading →

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Expect an AMT Patch…Eventually

Posted on November 29, 2010 by Russ

The 111th Congress will likely be remembered in history books for profligate spending and going against voters’ wishes. Sure, some of President Obama’s agenda was enacted (such as Obamacare), but most of it wasn’t wanted by voters. The public responded … Continue reading →

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Congress, Obama, and Small Business

Posted on September 21, 2010 by Russ

I’m a small business owner. I’m now reasonably successful, but I look warily at what’s coming down the pipeline in Washington (and Sacramento, for that matter) and don’t like what I see. Today, I read a great post on the … Continue reading →

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New Math

Posted on September 8, 2010 by Russ

Hooray for new math, New-hoo-hoo-math, It won’t do you a bit of good to review math. It’s so simple, So very simple, That only a child can do it! –Tom Lehrer, “New Math” That’s what I think of President Obama’s … Continue reading →

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3% or 48%?

Posted on September 7, 2010 by Russ

What will the impact be of the elimination of the Bush Tax Cuts? Proponents of eliminating the cuts note that only 3% of small business owners will be impacted. Well, that’s true…but it’s anything but the whole story. As Joe … Continue reading →

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29 Years Ago

Posted on August 17, 2010 by Russ

Today’s Orange County Register reminded me of an occurrence 29 years ago. On August 13, 1981, President Ronald Reagan signed into law the Kemp-Roth Tax Cut (the Economic Recovery Act of 1981). At the time, the economy looked horrible: inflation … Continue reading →

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