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【TOP 23】Mark Luscombe Quotes - WhatsApp Status | Page-1

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You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back. - Mark Luscombe Quotes

You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back.

You import shoes and make the shoelaces domestically. The shoes don't qualify because they're imported, but the shoelaces do. So you have to allocate costs to [and income from] the shoelaces separate from the shoes. - Mark Luscombe Quotes

You import shoes and make the shoelaces domestically. The shoes don't qualify because they're imported, but the shoelaces do. So you have to allocate costs to [and income from] the shoelaces separate from the shoes.

Generally, the unemployment rate is pretty low. I'm not sure they do at this point. - Mark Luscombe Quotes

Generally, the unemployment rate is pretty low. I'm not sure they do at this point.

People who don't live in presidential-declared disaster areas get help, but not the most help or the quickest. Those in declared disaster areas but not in the Hurricane Katrina-Rita-Wilma areas get more help quicker, while those in the Katrina-Rita-Wilma disaster areas get most. - Mark Luscombe Quotes

People who don't live in presidential-declared disaster areas get help, but not the most help or the quickest. Those in declared disaster areas but not in the Hurricane Katrina-Rita-Wilma areas get more help quicker, while those in the Katrina-Rita-Wilma disaster areas get most.

The odds of winning the grand prize are less than one in 146 million, but it's a sure bet that if you do win a big jackpot, you're going to also have a big tax bill, with more than one-third of your winnings going to the IRS. - Mark Luscombe Quotes

The odds of winning the grand prize are less than one in 146 million, but it's a sure bet that if you do win a big jackpot, you're going to also have a big tax bill, with more than one-third of your winnings going to the IRS.

What's really complex about it is you're going to have to do allocations you've never had to do before. - Mark Luscombe Quotes

What's really complex about it is you're going to have to do allocations you've never had to do before.

Compared to some other tax issues, like passive loss rules and stuff like that, it's not all that complicated, but people involved in things like passive loss rules can usually afford to pay for some sophisticated help. - Mark Luscombe Quotes

Compared to some other tax issues, like passive loss rules and stuff like that, it's not all that complicated, but people involved in things like passive loss rules can usually afford to pay for some sophisticated help.

For taxpayers, it means doing your taxes twice. - Mark Luscombe Quotes

For taxpayers, it means doing your taxes twice.

Individuals who put up a displaced person at their residence for at least 60 consecutive days can get an added exemption of $500 per person. - Mark Luscombe Quotes

Individuals who put up a displaced person at their residence for at least 60 consecutive days can get an added exemption of $500 per person.

The one thing that can make a bad situation worse is not filing your return or requesting an extension. That brings on a failure-to-file penalty, in addition to possible penalties and interest for failure to pay. It's smart to file even if you can't pay, and pay even if you get an extension to file. - Mark Luscombe Quotes

The one thing that can make a bad situation worse is not filing your return or requesting an extension. That brings on a failure-to-file penalty, in addition to possible penalties and interest for failure to pay. It's smart to file even if you can't pay, and pay even if you get an extension to file.

Increasing the length of the automatic extension will save taxpayers some time and trouble, but it's still smart to file as soon as you can. - Mark Luscombe Quotes

Increasing the length of the automatic extension will save taxpayers some time and trouble, but it's still smart to file as soon as you can.

Once they file for an extension one year, it sort of becomes a habit. I know people who do it regularly who don't have any particular reason they couldn't have had their information together by April 15. - Mark Luscombe Quotes

Once they file for an extension one year, it sort of becomes a habit. I know people who do it regularly who don't have any particular reason they couldn't have had their information together by April 15.

Habit

By splitting up a large distribution and taking part in December and part in January, you may avoid moving to a higher tax bracket in either year, and keep more of your Social Security benefits from being taxed as well. - Mark Luscombe Quotes

By splitting up a large distribution and taking part in December and part in January, you may avoid moving to a higher tax bracket in either year, and keep more of your Social Security benefits from being taxed as well.

There are a lot of little wrinkles as to how exclusive the use of the office has to be. - Mark Luscombe Quotes

There are a lot of little wrinkles as to how exclusive the use of the office has to be.

No self-respecting tax practitioner would sign on to any of these. - Mark Luscombe Quotes

No self-respecting tax practitioner would sign on to any of these.

Self

This is because they're viewed as prepaid interest. - Mark Luscombe Quotes

This is because they're viewed as prepaid interest.

He's been pretty consistent in wanting to make the cuts permanent. - Mark Luscombe Quotes

He's been pretty consistent in wanting to make the cuts permanent.

People are generally pretty good at keeping track of things they write a check for but they're a little sloppier with the $5 they put in the collection basket at church or give to the organization on the street. A lot of people also fail to keep track of non-cash donations. They drop things off at Goodwill without making an inventory of what they gave. - Mark Luscombe Quotes

People are generally pretty good at keeping track of things they write a check for but they're a little sloppier with the $5 they put in the collection basket at church or give to the organization on the street. A lot of people also fail to keep track of non-cash donations. They drop things off at Goodwill without making an inventory of what they gave.

In spite of all the talk about simplicity, in fact the tax code has gotten more complicated every year. - Mark Luscombe Quotes

In spite of all the talk about simplicity, in fact the tax code has gotten more complicated every year.

I think it will pass this year. - Mark Luscombe Quotes

I think it will pass this year.

Because of the AMT, some people are not able to take advantage of the tax cuts that Bush made available. - Mark Luscombe Quotes

Because of the AMT, some people are not able to take advantage of the tax cuts that Bush made available.

Congress failed to extend the exemption increase into 2006. I think they still intend to do that, just retroactively. - Mark Luscombe Quotes

Congress failed to extend the exemption increase into 2006. I think they still intend to do that, just retroactively.

I can't tell you why there hasn't been a hue and cry about this. Maybe it's just because the baby boomers aren't quite old enough to be affected by it yet. - Mark Luscombe Quotes

I can't tell you why there hasn't been a hue and cry about this. Maybe it's just because the baby boomers aren't quite old enough to be affected by it yet.

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