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(#243) Highlights of the “Tax Cuts and Jobs Act” – Business Tax Changes
As posted by Thomson Reuters on 12/22/17 On 12/22/17, President Trump signed into law H.R. 1, the “Tax Cuts and Jobs Act,” a sweeping tax reform law that will entirely change the tax landscape. The legislation reflects the largest major tax reform in over three decades. This post, which refers to the Act by its [...]
(#242) Money vs Currency
Terms Seemingly Used Interchangeably, What is the Difference? As posted to the GoldSilver YouTube Channel on 2/26/2013 https://youtu.be/DyV0OfU3-FU In this, the first installment of the popular "Hidden Secrets of Money" docu-series, Mike Maloney travels to Egypt to unravel the difference between money and currency. Many people have been led to believe they are the same [...]
(#241) Everything Will Come to a Grinding Halt in 2017
Debt Ceiling Holiday Ends 3/15/17 As posted to Greg Hunter's USA Watchdog YouTube Channel on February 25, 2017 Former White House Budget Director David Stockman drops a bomb in his latest interview by saying, “I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that [...]
(#240) Exter’s Pyramid of Collapsing Values
In What Order will Asset Values Fail in the Next Financial Crisis? As posted to LesJones.com on September 9, 2009 Reproduced from the article: "Word of the Day: Exter's Inverted Pyramid of Assets" John Exter’s inverted pyramid. The idea is that things high on the pyramid are derivatives of asset classes further down the pyramid. [...]
(#239) Scanning Documents with your Phone
Introducing CamScanner As posted to the CamCard/CamScanner YouTube Channel on October 28, 2016 https://youtu.be/Z_nlGEkW6ic Back in the day, clients provided their personal tax data in a shoe box . . . everything but the kitchen sink in the form of crumpled up receipts, handwritten notes on scrap paper or napkins, and other "support". Now, [...]
(#238) I, Pencil
Lesson: Leave all Creative Energies Uninhibited As released by the Competitive Enterprise Institute (CEI) in November 2012 https://youtu.be/IYO3tOqDISE In November 2012, the Competitive Enterprise Institute (CEI) released I, Pencil: The Movie, an animated short film adapted from the 1958 essay by Leonard E. Read. Do you know how to make a pencil? You don’t, do [...]
(#237) Establishing Reasonable Cause
Valid Reasons for FTB Penalty Abatement As appearing at Spidell's California Minute on 10/9/16 You've been assessed a penalty for the late filing of your return or payment of tax . . . what are your options? One is to claim that you had "reasonable cause" for the infraction. Although it is an option, [...]
(#236) The Greatest Stock Market vs Base Money Divergence on Record
The Stock Market is Exactly Mirroring Base Money As posted to the GoldSilver You Tube Channel on 7/21/16 https://youtu.be/U1RlJuJ9hAw What's behind the recent market rally? In this video, Mike shows you how the market is being pumped up to record highs, (Hint: it's not individual investors doing the buying) and the telltale sign a [...]
(#235) IRS Issues Tangible Property Capitalization Audit Guide
A tool for IRS auditors to identify potential tax issues As posted to the IRS website on 9/14/16 Overview On September 14, 2016, the IRS issued an Audit Techniques Guide (ATG) on the Capitalization of Tangible Property. The ATG is a tool to assist IRS examiners in identifying potential tax issues. Examiners are advised [...]
(#234) The Business Cycle in 5 Minutes
An explanation of the current state of the economy As appearing on the libertyordeath TV's YouTube Channel Business cycle theory is an economic theory developed by the Austrian School of economics about how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit, due to artificially low [...]
(#233) Vehicle Recall Search Tool
Search Vehicle Recalls by Vehicle Identification Number (VIN) The National Highway Traffic Safety Association (NHTSA) now provides a tool to search active vehicle recalls by VIN. To use this tool, visit www.safercar.gov. Besides the VIN search tool, NHTSA offers additional safety information based on a vehicle's make, model, and model year and not tied [...]
(#232) Brexit: The Movie
British Documentary Outlines the Pro-Brexit Position As posted to the "Brexit: The Movie" You Tube Channel on May 12, 2016 Trailer (1 minute) https://youtu.be/39-or7YDgz4 Full Documentary (1 hour, 11 minutes) https://youtu.be/UTMxfAkxfQ0 Brexit: The Movie is a feature-length documentary film to inspire as many people as possible to vote to LEAVE the EU in the [...]
(#231) “Everyone Should be Concerned”
Jim Rogers Talks to RT about Brexit As appearing on RT on 6/24/16 https://www.youtube.com/watch?v=mAL80hylj08 Jim Rogers, financial guru and investor, talks to RT about the impact of Brexit. "We should all be worried" because the Brexit vote could be the trigger for "dominoes to start falling", boosting world economic recession, causing troubles for businesses [...]
(#230) Need to Maintain a Mileage Log? There’s an App for That!
Mile IQ: Automatic Mileage Tracking As posted to the Mile IQ You Tube Channel on 12/19/14 https://www.youtube.com/watch?v=kBnw6a4Jcyw Opportunity You use your car for business and are entitled to a $0.54/mile (for 2016) tax deduction for each and every mile you drive. Problem To accurately calculate, record and support your deduction, the IRS requires that [...]
(#229) The Case for Gold as the Fed “Tightens into Recession”
Jim Rickards Explains As appearing on RT's "Boom Bust" on 4/14/16 https://youtu.be/CwjS4Ytb1iM?t=2m37s Note: Jim Rickards segment ends at time marker 10:40. James G. Rickards is an American lawyer. He is a regular commentator on finance, and is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published [...]
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This blog is designed to provide competent and reliable information regarding the subject matter covered. However, it is being provided with the understanding that the blogmaster is not engaged in rendering investment advice. Laws and practices often vary from state to state and if investment assistance is required, the services of a licensed investment professional should be sought. The blogmaster resolutely encourages the reader/viewer to do their own research and due diligence before acting on any information contained herein. As such, Roger Rossmeisl specifically disclaims any liability that is incurred from the use or application of the contents of this blog. It should also be noted that the views contained in this blog are not necessarily representative of the opinions/beliefs of the other owners, management and/or employees of Kho & Patel CPAs.















