Hi everyone,
A friend of mine send this to me. I could not explain our system better, quite funny and maybe some people will start to understand.
Cheers,
Patrick
The Tax System – Explained With Beer
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill [...]

read more from this topic.....

Hi Everyone,
I talked to a friend yesterday whose broker sold a mutual fund to get a tax loss and then bought a similar fund right after wards. The fund purchased was not from the same company, but he told my friend that they are virtually the same.
I believe that this is considered a wash sale [...]

read more from this topic.....

Hi Everyone,
The IRS has published the latest statistics on who pays how much in income taxes in the United States. The numbers are for 2006, but here are some interesting facts next time you hear a politician talking about increasing the taxes.
• The bottom 95% of earners paid just under 40% of all the taxes [...]

read more from this topic.....