The tee shirt says, "If you've got a business, you didn't built it yourself. -- We've got to get them out in 2012!" If you want some of these for yourself and family, here's the link
Sunday, August 26, 2012
A Must-Have 2012 Election Souvenir Tee Shirt !!!!
I saw these 2012 Election 2012 Tee Shirts and bought a couple. It will make a great statement now and a fantastic souvenir later.
The tee shirt says, "If you've got a business, you didn't built it yourself. -- We've got to get them out in 2012!" If you want some of these for yourself and family, here's the link
The tee shirt says, "If you've got a business, you didn't built it yourself. -- We've got to get them out in 2012!" If you want some of these for yourself and family, here's the link
Election Humor and Food for Thought! :)
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| Billboard on Route I-35 South |
Wednesday, August 22, 2012
Colonel Brooks Tavern Closure Date Announced!!
By JC Leahy
Colonel Brooks Tavern employees today were notified that the Tavern will close its doors forever on September 15. On-duty employees were seen crying.
Colonel Brooks Tavern is a landmark in the Brookland area of DC. It is frequented by Catholic University and Trinity College students and employees, and by employees of nearby hospitals, among others. It is at 901 Monroe Street, NE, directly across the street from the Brookland Metro Station. The Tavern is closing to make way for private development of 205 to 220 upscale condominiums and 150 below-grade parking spaces. The new structure will include 12,720 square feet of street-level retail space as well. Colonel Brooks Tavern will not reopen in any of the new space, according to Colonel Brooks management.
"Where will we go for lunch now" lamented one nurse. "There's nothing else comparable around here!"
Colonel Brooks Tavern employees today were notified that the Tavern will close its doors forever on September 15. On-duty employees were seen crying.
Colonel Brooks Tavern is a landmark in the Brookland area of DC. It is frequented by Catholic University and Trinity College students and employees, and by employees of nearby hospitals, among others. It is at 901 Monroe Street, NE, directly across the street from the Brookland Metro Station. The Tavern is closing to make way for private development of 205 to 220 upscale condominiums and 150 below-grade parking spaces. The new structure will include 12,720 square feet of street-level retail space as well. Colonel Brooks Tavern will not reopen in any of the new space, according to Colonel Brooks management.
"Where will we go for lunch now" lamented one nurse. "There's nothing else comparable around here!"
Wednesday, August 15, 2012
Consumer Complaint: Carroll Home Services / Carroll Fuel
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| JC Leahy, MA Accounting |
General Manager
Carroll Fuel/Carroll Home Services
2700 Loch Raven Road, Suite 200
Baltimore, MD 21218
Dear Sir/Madam:
Ref. Account # 10-51
Your accounting department is abysmal. So much so that it is a barrier to doing business. MOST bills that you send contain errors! Although I believe I usually catch the errors, having to carefully check each billings and deal with the constant corrections takes too much of my valuable time. Consider, for example, the fact that I am writing this letter now.
You have been dunning me for $80.52 since last heating season. Given your abysmal track record, I have not paid. I knew that you were probably in error. I explained to your accounting folks that I pay by individual invoice, and I demanded to know what invoice had been underpaid. All this time, your accounting department has been UNABLE TO TELL which invoice it was. Then FINALLY on July 30 (postmark) you were able to send me documentation that invoice #6457659 had been issued at $580.41 and paid at $499.89, leaving a balance due of $80.52. Sigh....I am enclosing a copy of that invoice. Also I am enclosing a copy of an e-mail from your sales agent specifying my fixed price agreement for last season. My price cap was $3.599 per gallon. You invoiced me at $3.999 per gallon for 138.8 gallons of fuel. I adjusted the erroneous invoice to the correct price per gallon. I also enclosed a $25 coupon as payment towards the invoice. The adjusted amount due was, correctly, $499.89 and that is the amount of the payment you received. Which leaves a balance due of ZERO.
I like your field reps and delivery service, but your accounting department is too much to bear. It is irritating to receive a dunning notice. It is distracting to have to check every bill I receive. It is time consuming and frustrating to have to talk by phone to your accounting folks who are SO confident in their accuracy but are ALWAYS wrong. What kind of a way is that to run a business???!!!!
As a way of apology and compensation for everything, you should send me $75 in coupons towards next seasons' fuel. Otherwise, there is not a snowballs chance in hell of my continuing my two delivery accounts with you.
Sincerely yours,
JC Leahy, MA Accounting
Thursday, August 2, 2012
Wednesday, June 20, 2012
Letter to the University of Virginia Board of Visitors
By Claudia Guy
Dear Editor and a Message to the Board of Visitors,
How did University of Virginia President Teresa Sullivan's ousting by the Board of Visitors become such a big news story? I understand that the UVA community wants a clear explanation as to why Sullivan was ousted. But in my mind the only meaningful issue is how the ouster became such a big news story.. I've seen plenty of other less-than-meaningful arguments (below) that I cannot begin to understand.
1. "Semper Sic Dragas." Do you honestly believe Dragas' actions were in any way tyrannical? The Board of Visitors has every right to oust a president if they have different goals and priorities for the school. That's part of their job, as a committee, to develop long-term goals for the university and work as best they can to make sure those goals are achieved. The Board of Visitors offers checks and balances to the University's system and I doubt very much that the Board of Visitors took such a bold step without first trying to find some middle ground.
2. "You can't run a university like a business." Of course you can - and should! In this economic crisis funds are drying up in all directions - from federal sources, state sources, and grass root (alumni) sources. Maybe the University's students will rack up debt like they've just gotten their first credit card (because that may, in fact, be the case for many) but in the long term debt is never a good solution. The school itself should have a budget and stick to it. If you can't afford all of your programs even after rigorous fundraising, you will simply have to cut your spending. Racking up debt is not the answer. Look at Greece. Or, if you prefer, just look across the Potomac for an example a little closer to home.
3. Similar to #2 above but more specific: "Corrupt business principles should not govern the University's budget. For example, it is corrupt to pay more to some professors simply because their graduates will go on to higher-paying fields and therefore be able to make bigger donations in the future." This is a lovely conspiracy theory, but I can tell you with 100% certainty that possibility of future donations is not a factor in professors' salaries. A professor's salary is based on two main factors: First, how much would the professor be paid at another university? Second, how much would the professor be paid working at a job in their field? There are a myriad of other lesser factors, but these are the governing principles. If professors are not reasonably paid according to these two factors, we will lose them either to other universities or other jobs. Yes, in the end the chemical engineering professor will probably be paid more than a liberal arts professor. But, it has nothing to do with the potential for future donations - or any other philosophy for that matter! This is not a conspiracy, people! It's simply economics.
4. "Two years wasn't a long enough time to know if Sullivan would do a good job. She was just getting her feet wet." First, I would like to say I don't think the issue is whether or not Sullivan was doing a good job. I believe the real issue here was whether or not the Board and Sullivan had insurmountable philosophical differences that neither party would compromise on. If that was the case, two years was plenty of time to determine that the board-president relationship would not work.
So, why the scandal, O Board of Visitors? If you were so definitely in the right when you acted, then why, do you appear so in the wrong now? I'll tell you why. Because the community asked for a cause of termination and you did not offer one. You were too concerned about the principle of the matter. "This is well within our right as Board of Visitors and this is supposed to be a private affair, so 'no!' community, you may not have your answers!" You were too busy thinking about principle to think about perception. And the perception was that if you're not telling us your reasons then whatever you're hiding must stink.
Now you are faced with a reality check, Board of Visitors! Things are out of control - donors are pulling money and faculty are resigning! Your community feels wronged! More importantly your community wants answers! Now that everyone's watching, vague answers will not do. Tell us clearly why President Sullivan was fired!!!!
Signed,
Claudia Guy
Dear Editor and a Message to the Board of Visitors,
How did University of Virginia President Teresa Sullivan's ousting by the Board of Visitors become such a big news story? I understand that the UVA community wants a clear explanation as to why Sullivan was ousted. But in my mind the only meaningful issue is how the ouster became such a big news story.. I've seen plenty of other less-than-meaningful arguments (below) that I cannot begin to understand.
1. "Semper Sic Dragas." Do you honestly believe Dragas' actions were in any way tyrannical? The Board of Visitors has every right to oust a president if they have different goals and priorities for the school. That's part of their job, as a committee, to develop long-term goals for the university and work as best they can to make sure those goals are achieved. The Board of Visitors offers checks and balances to the University's system and I doubt very much that the Board of Visitors took such a bold step without first trying to find some middle ground.
2. "You can't run a university like a business." Of course you can - and should! In this economic crisis funds are drying up in all directions - from federal sources, state sources, and grass root (alumni) sources. Maybe the University's students will rack up debt like they've just gotten their first credit card (because that may, in fact, be the case for many) but in the long term debt is never a good solution. The school itself should have a budget and stick to it. If you can't afford all of your programs even after rigorous fundraising, you will simply have to cut your spending. Racking up debt is not the answer. Look at Greece. Or, if you prefer, just look across the Potomac for an example a little closer to home.
3. Similar to #2 above but more specific: "Corrupt business principles should not govern the University's budget. For example, it is corrupt to pay more to some professors simply because their graduates will go on to higher-paying fields and therefore be able to make bigger donations in the future." This is a lovely conspiracy theory, but I can tell you with 100% certainty that possibility of future donations is not a factor in professors' salaries. A professor's salary is based on two main factors: First, how much would the professor be paid at another university? Second, how much would the professor be paid working at a job in their field? There are a myriad of other lesser factors, but these are the governing principles. If professors are not reasonably paid according to these two factors, we will lose them either to other universities or other jobs. Yes, in the end the chemical engineering professor will probably be paid more than a liberal arts professor. But, it has nothing to do with the potential for future donations - or any other philosophy for that matter! This is not a conspiracy, people! It's simply economics.
4. "Two years wasn't a long enough time to know if Sullivan would do a good job. She was just getting her feet wet." First, I would like to say I don't think the issue is whether or not Sullivan was doing a good job. I believe the real issue here was whether or not the Board and Sullivan had insurmountable philosophical differences that neither party would compromise on. If that was the case, two years was plenty of time to determine that the board-president relationship would not work.
So, why the scandal, O Board of Visitors? If you were so definitely in the right when you acted, then why, do you appear so in the wrong now? I'll tell you why. Because the community asked for a cause of termination and you did not offer one. You were too concerned about the principle of the matter. "This is well within our right as Board of Visitors and this is supposed to be a private affair, so 'no!' community, you may not have your answers!" You were too busy thinking about principle to think about perception. And the perception was that if you're not telling us your reasons then whatever you're hiding must stink.
Now you are faced with a reality check, Board of Visitors! Things are out of control - donors are pulling money and faculty are resigning! Your community feels wronged! More importantly your community wants answers! Now that everyone's watching, vague answers will not do. Tell us clearly why President Sullivan was fired!!!!
Signed,
Claudia Guy
Tax Tip: Avoid "Married Filing Seperate" Returns If You Can
By JC Leahy, MA Accounting
Twitter@taxhelpwhenneed
Twitter@taxhelpwhenneed
A married person can file as head of household (rather than married-filing-seperate) if he is considered an "abandoned
spouse" for tax purposes. To be an "abandoned spouse" you need to meet
these requirements:
1. You file a separate return
2. You maintain a home where the child for whom you may CLAIM AS DEPENDENCY DEDUCTION lives for more than half of the year
3. You must pay more than half the cost of maintaining that home, and
4. During the lat 6 monts of the year, your spouse must not live in the same house as you.
To
claim the dependency, in turn, you must pay MORE THAN HALF THE COST of
maintaining the child OR have an agreement approved by a divorce court
that says you get the dependency exemption.
Tuesday, April 3, 2012
IS IT TOO LATE TO MAKE YOUR IRA CONTRIBUTION??
By JC Leahy, MA Accounting
Twitter@taxhelpwhenneed
HAS THE DEADLINE PASSED TO MAKE MY INDIVIDUAL IRA SAVINGS CONTRIBUTION FOR 2011??
The really great news is that you have until the April 16, 2012 tax filing deadline to open your Traditional IRA savings account and make your 2011 IRA contribution -- if you are eligible.
AM I ELIGIBLE TO CONTRIBUTE SAVINGS TO A TRADITIONAL IRA?
If you (1) have taxable earned income and (2) you are less than 70.5 years old, then you can establish a traditional IRA and contribute money to it. It's that simple. Earned income includes salary, wages, commissions, self-employment income, alimony, and combat pay. It does not include any pensions (including Social Security), interest, dividends, or annuities. In the year you reach the age of 70.5, you can no longer establish or contribute to a traditional IRA.
HOW MUCH CAN I CONTRIBUTE TO MY IRA?
For 2011 (and 2012 also) you can contribute $5,000 per year or the amount of your taxable earned income, whichever is less, to a traditional IRA. This is true whether you are covered by a retirement plan or not!! If you have reached the age of 50 during the year, you may contribute an additional $1,000 catch-up contribution. This makes a total limit of $6,000.
Here's the exception. It's a good one: If one spouse doesn't work or earns less than $5,000, he/she may establish and contribute to an IRA based on the earnings of the other spouse. Between them, there is a limit of $10,000, which can be allocated in any way they wish between their two IRA accounts -- provided that neither one's account receives more than $5,000. For example, if the husband makes $100,000 and the wife makes zero of earned income, the wife may contribute up to $5,000 into her traditional IRA and the husband, likewise, may put up to $5,000 into his IRA. This also applies to the $1,000 catch up contribution.
One other fine point: If you have a Traditional IRA and also a Roth IRA, the $5,000/$6,000 limit includes both. In other words, you can only contribute $5,000/$6,000 TOTAL between the two.
HOW MUCH OF MY TRADITIONAL IRA CONTRIBUTION CAN I ACTUALLY DEDUCT?
Don’t be confused on this point: If you are not covered by a retirement plan at work at any time during the year, you can deduct every penny of your traditional IRA contribution. Period. .
IRA Deduction Phase Out: It's slightly more complicated if you were covered by a retirement plan at work. In that case, if your "Modified Adjusted Gross Income" (MAGI) is less than certain thresholds, you still get to deduct your entire Traditional IRA contribution. But you can still make your $5,000/$6,000 contribution to the IRA account -- you just won't be able to deduct it. Here are the Traditional IRA deduction phase-out parameters:
For 2012, here are the Traditional IRA Contribution Deduction Limits:
One other important tax-law quirk: If your filing status is Married Filing Separately, you are screwed! Your IRA deduction phase out starts at $1 of Modified Adjusted Gross Income and that deduction drops to zero when your MAGI reaches $10,000!!
In situations when you can't deduct your Traditional IRA contribution, why would you want to make the contribution at all? There are two reasons. First, earnings accumulate and compound every year without being diminished by annual income taxes. You only pay the tax on earnings when you withdraw them in your old age -- and you will probably be in a lower tax bracket then. Second, if you have a nondeductible Traditional IRA contribution, you get what is called a "basis" in your IRA account. This just means that when you eventually withdraw from your IRA, the "basis" portion will not be taxable.
If you need assistance with your income tax filing this Tax Season, you might want to contact:
JC Leahy, MA Accounting
TaxHelpWhenYouNeedIt.com
Silver Spring, Maryland
E-mail: jcleahy@TaxHelpWhenYouNeedIt.com
Tel. (301)537-5365
Twitter@taxhelpwhenneed
The really great news is that you have until the April 16, 2012 tax filing deadline to open your Traditional IRA savings account and make your 2011 IRA contribution -- if you are eligible.
AM I ELIGIBLE TO CONTRIBUTE SAVINGS TO A TRADITIONAL IRA?
If you (1) have taxable earned income and (2) you are less than 70.5 years old, then you can establish a traditional IRA and contribute money to it. It's that simple. Earned income includes salary, wages, commissions, self-employment income, alimony, and combat pay. It does not include any pensions (including Social Security), interest, dividends, or annuities. In the year you reach the age of 70.5, you can no longer establish or contribute to a traditional IRA.
HOW MUCH CAN I CONTRIBUTE TO MY IRA?
For 2011 (and 2012 also) you can contribute $5,000 per year or the amount of your taxable earned income, whichever is less, to a traditional IRA. This is true whether you are covered by a retirement plan or not!! If you have reached the age of 50 during the year, you may contribute an additional $1,000 catch-up contribution. This makes a total limit of $6,000.
Here's the exception. It's a good one: If one spouse doesn't work or earns less than $5,000, he/she may establish and contribute to an IRA based on the earnings of the other spouse. Between them, there is a limit of $10,000, which can be allocated in any way they wish between their two IRA accounts -- provided that neither one's account receives more than $5,000. For example, if the husband makes $100,000 and the wife makes zero of earned income, the wife may contribute up to $5,000 into her traditional IRA and the husband, likewise, may put up to $5,000 into his IRA. This also applies to the $1,000 catch up contribution.
One other fine point: If you have a Traditional IRA and also a Roth IRA, the $5,000/$6,000 limit includes both. In other words, you can only contribute $5,000/$6,000 TOTAL between the two.
HOW MUCH OF MY TRADITIONAL IRA CONTRIBUTION CAN I ACTUALLY DEDUCT?
Don’t be confused on this point: If you are not covered by a retirement plan at work at any time during the year, you can deduct every penny of your traditional IRA contribution. Period. .
IRA Deduction Phase Out: It's slightly more complicated if you were covered by a retirement plan at work. In that case, if your "Modified Adjusted Gross Income" (MAGI) is less than certain thresholds, you still get to deduct your entire Traditional IRA contribution. But you can still make your $5,000/$6,000 contribution to the IRA account -- you just won't be able to deduct it. Here are the Traditional IRA deduction phase-out parameters:
| |||||||||||||||||||||||||||
For 2012, here are the Traditional IRA Contribution Deduction Limits:
| |||||||||||||||||||||||||||||||
One other important tax-law quirk: If your filing status is Married Filing Separately, you are screwed! Your IRA deduction phase out starts at $1 of Modified Adjusted Gross Income and that deduction drops to zero when your MAGI reaches $10,000!!
In situations when you can't deduct your Traditional IRA contribution, why would you want to make the contribution at all? There are two reasons. First, earnings accumulate and compound every year without being diminished by annual income taxes. You only pay the tax on earnings when you withdraw them in your old age -- and you will probably be in a lower tax bracket then. Second, if you have a nondeductible Traditional IRA contribution, you get what is called a "basis" in your IRA account. This just means that when you eventually withdraw from your IRA, the "basis" portion will not be taxable.
If you need assistance with your income tax filing this Tax Season, you might want to contact:
JC Leahy, MA Accounting
TaxHelpWhenYouNeedIt.com
Silver Spring, Maryland
E-mail: jcleahy@TaxHelpWhenYouNeedIt.com
Tel. (301)537-5365
Thursday, March 29, 2012
Whacky Liberal or Perfectly Reasonable Person??
By JC Leahy
What do you think about this? I had lunch yesterday with a Liberal woman who FIRMLY believes that George Bush arranged the 9/11 World Trade Center attacks. Her names is W. I asked W why she believes that Bush planned the WTC attacks. She exclaimed emphatically that (1) "George Bush used to work for the CIA", (2) "It's all about the oil, Honey", and (3) "After all, what do 3,000 lives matter in the 'Big Picture'". To her, this trio of assertions, if repeated with enough energy and conviction, constitutes airtight proof that George Bush arranged the World Trade Center attacks. Do you think many people share this kind of belief system?? Your comment please.
PS -- No, I did NOT make up W. She also believes that George Bush is responsible for nearly everything blamed on President Obama, that Obamacare is good for America, that anyone who disagrees with Obama is racist, and that the Black Panther Party shall rise again!!! W makes a fascinating lunch date!!
What do you think about this? I had lunch yesterday with a Liberal woman who FIRMLY believes that George Bush arranged the 9/11 World Trade Center attacks. Her names is W. I asked W why she believes that Bush planned the WTC attacks. She exclaimed emphatically that (1) "George Bush used to work for the CIA", (2) "It's all about the oil, Honey", and (3) "After all, what do 3,000 lives matter in the 'Big Picture'". To her, this trio of assertions, if repeated with enough energy and conviction, constitutes airtight proof that George Bush arranged the World Trade Center attacks. Do you think many people share this kind of belief system?? Your comment please.
PS -- No, I did NOT make up W. She also believes that George Bush is responsible for nearly everything blamed on President Obama, that Obamacare is good for America, that anyone who disagrees with Obama is racist, and that the Black Panther Party shall rise again!!! W makes a fascinating lunch date!!
Thursday, March 8, 2012
Abandoned Spouse Rule: Filing Your Federal Income Tax with Filing Status Head of Household
Although I’m still married, can I file my Form 1040 Federal income tax return as Head of Household rather than Married Jointly or Married Separately? Robert's income still comes in to help provide for us, even though we've been separated for over a year and the kids live exclusively with me. We have not drawn up any formal separation papers, but that didn't seem necessary for the status. Me and my two daughters are going to be in college next year (me and Anna are currently) We filled out the FAFSA stating that Robert and I are separated and I believe that if I file the taxes as "married filing jointly" again this year it may affect the help we get with tuition (which we definitely need!).
Answer from JC Leahy:
Yes, Virginia, you can file your Federal income tax return with the filing status Head of Household if you are considered what they call an "abandoned spouse". To be an "abandoned spouse" you need to meet these requirements:
1. You file a separate return
2. You must maintain a home where the child for whom you may CLAIM AS DEPENDENCY DEDUCTION lives for more than half of the year
3. You must pay more than half the cost of maintaining that home, and
4. During the lat 6 months of the year, your spouse must not live in the same house as you.
To claim the dependency, in turn, you must pay MORE THAN HALF THE COST of maintaining the child OR have an agreement approved by a divorce court that says you get the dependency exemption.
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