The Tax Questions Blog

Archive for August, 2010

Question: Is Dividend from Debt Mutual fund also taxable in india ?

Is Dividend from Debt Mutual fund also taxable in india ?

Answer: No. It is tax free. Read in the web site. Link given below .

http://www.personalfn.com/tax/tdd09.html

BlackRock Reports Second Quarter Diluted EPS of $2.21 ($2.37 as adjusted)

NEW YORK----BlackRock, Inc. today reported second quarter 2010 net income1 of $432 million, up $214 million from a year ago and up $9 million compared to first quarter. Operating income was $697 million and non-operating expense, net of non-controlling interests, was $32 million.

Question: Are you tired of paying hidden taxes on health insurance premiums?

My health insurance is too high partially due to the hidden taxes on it. It would be better to self pay if the system was set up fairly like many years ago.
If I self pay the hospitals jack up my rate sometimes ten fold.
What a scam.

Answer: That's whats wrong with health care now. The government forces providers to provide for those who don't pay. So that cost is passed on to those who do pay. On top of that the government fixes payments for medicare etc. in many cases below cost. Here again the cost of this is passed on to those who do pay.

If the government really wants us all to have health insurance why don't they let us deduct premiums from our income tax for individual policies instead of forcing us into empolyer provided programs. Why do States have coverage requirements that force insurance companies to provide prenatal coverage to 90 year old grandmothers.

Its a mess due to government meddling and they fix the mess by meddling more and making it a bigger one.

Parente: Replay of Hopkinton and Milford sewer scripts

Plato's essay, "The Republic" suggests justice is "minding one's own business ... one man should do the one job for which he is naturally best fitted and should not try to do anyone else's job."

FiscalReps Insurance Premium Tax Presentation - Part One

Question: Where is our tax money spent? UK only thanks.?

I've looked for a breakdown of how much money the government gets from income tax and where it spends it,but alas, I have come up with nothing. I naively thought there would be a nice graph of incomings and outgoings on some .gov site but there isn't. Or is there?
Just a little update. Thanks for you answers so far. I'm not anti-tax if I know where it is being spent, but I cannot find anywhere that tells me how much goes on defence and how much on hospitals etc. Does anyone know if this info is publicly available?

Answer: war, useless development buildings, funding the failing NHS, governments pockets, translators, immigration control, english classes, benefits and aid to countries amongst many other wastes

also the government would not dare show the real figures on what goes to where

Democrats say property taxes are key issue

Property taxes are brought up more often than any other issue on the campaign trail, according to Democratic candidates vying for Saline County's 1st District seat on the Saline County Commission.

I'm Not a Slave Says Tax Protester Michele Seven

Question: Can I take a capital loss deduction for losing money on my home due to short selling?

I've gone through a short sale and I understand that the money the bank forgave on my home is taxable as income. However, should I be able to take a capital loss deduction for the difference of what I bought my home for and what it sold for? Also, can I claim the amount spent on the home for renovations and improvements? How about lawyer fees associated with the sale?

Answer: Nothing. This was your primary residence not a business. You will be receiving a 1099 from your lender for the balance of your mortgage. This will have to be claimed as income on your 2010 tax return.

Mercantile Bank Corporation Reports Second Quarter 2010 Results

GRAND RAPIDS, Mich. -- Mercantile Bank Corporation reported a second quarter 2010 net loss attributable to common shares of $0.7 million, or per diluted common share, compared to a net loss of $6.4 million, or per diluted common share, for the year-ago quarter.

Ann Arbor - Are There Tax Consequences From a Short Sale - http://AnnArborAreaShortSales.com