Thursday, February 21, 2008

Taxes

We are anxiously awaiting our 'tax return preparation' result. And in case you are too, here is some Humor for Tax Time:

"There is just one thing I can promise you about the outer space program: Your tax dollar will go further." --Werner von Braun

"A suggested simplified tax form: How much money did you make last year? Mail it in." -- Stan Delaplane

"The income tax has made more liars of the American people than Golf has." -- Will Rogers

If a lawyer and an IRS agent were both drowning, and you could only save one of them, would you go to lunch or read the paper?

For every tax problem there is a solution which is straightforward, uncomplicated and wrong.

People who complain about paying their income tax can be divided into two types: men and women.

The ideal solution is for the Government to live within its means not yours.

If taxes are the answer, what was the question?

Here is an actual answer for the facetious tax question "Can I depreciate my cat?"

  • "Livestock held for work, breeding or dairy purposes may be depreciated over its useful life subject to an allowance for salvage value. Livestock includes chinchillas, mink, foxes and other furbearing animals. If held for breeding (or draft) purposes, a cat is not inventory. Therefore, assuming the cat meets these tests, the cat will be depreciable unless the catbreeding activity is subject to the passive loss rules, at risk limitations, or the rules denying losses for activities not engaged in for profit. If you sell the cat it will be treated as Section 1231 property, and depreciation will have to be recaptured, unless the disposition is in connection with a divorce. To avoid recapture, it's best to contribute the depreciated cat to charity."

If Congress can pay farmers not to raise crops, why can't we pay Congress not to raise taxes?

Isn't it appropriate that the month when the taxes are due begins with April Fool's Day and ends with cries of "May Day!"?

A political promise today means another tax tomorrow.

And finally, this one from the Old Farmer's Almanac:
If Patrick Henry thought that taxation without representation was bad, he should see how bad it is with representation.

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