Up to my eyebrows in work. I can't bear to stare at a computer screen unless I'm getting paid. Well, not technically true. Apparently I can stare at other people's blogs, but can't put anything up on my own.
I'm struggling trying to cope with the hours of forced inactivity every day. At my old place there was always some excuse to get up, disappear down the hall, take a break, heck, even go home and munch crackers. At the new place I'll spend hours moving nothing but my mouse finger. How do you folks all do it? Do you spend every non-work waking moment working out? Or do you throw in the towel during tax season and promise yourself you will come out of hibernation and burn off the tax season fat after April 15? A very active friend of mine described it as "having to get in shape for your full time desk job" and she's right.
See y'all after April 15, if not before.
Sunday, March 18, 2007
Sunday, March 4, 2007
Out of the cage
Today (Sunday) they let me out of my pen, or rather I took myself out, to do one of these. I did the easiest run, which at points, due to the crowd, was more of a stroll. But the elevation gain made it rough, and the downhill,which I had so been looking forward to, was a bone-jarring descent over a series of waterbars. Still it was a lovely trail and awesome scenery. And I'll be able to rest my sore bones in the swivel chair all day tomorrow, surely not the best remedy.
Spent yesterday (Saturday) trying to figure out when and how you deduct a SEP IRA contribution for a S-Corp >2% shareholder, and whether you are allowed to do it even if it brings the S-Corp income down below zero. (Answer: yes, probably, if there is basis in the corporation.) If the same issue has been bothering any readers, people who care are talking about it here and here .
Also discovered an interesting twist on the gambling winnings issue. As previously mentioned, even when you can deduct your gambling losses dollar for dollar against your gambling winnings, the increase in adjusted gross income from the gross gambling winnings can sometimes render other previously tax-free income taxable (case in point, Social Security income - sometimes). However, income from gambling winnings also increases your sales tax deduction! Pretty cool, huh? The IRS has established an allowable sales tax deduction based on your adjusted gross income. Even though when you deduct gambling losses to the extent of your gambling winnings you are in effect declaring that you did not make purchases subject to sales tax with this income, the IRS still lets you have the calculated sales tax deduction. William Bennett take note.
As always, none of this is meant to be construed as tax advice, just generalized ranting.
Spent yesterday (Saturday) trying to figure out when and how you deduct a SEP IRA contribution for a S-Corp >2% shareholder, and whether you are allowed to do it even if it brings the S-Corp income down below zero. (Answer: yes, probably, if there is basis in the corporation.) If the same issue has been bothering any readers, people who care are talking about it here and here .
Also discovered an interesting twist on the gambling winnings issue. As previously mentioned, even when you can deduct your gambling losses dollar for dollar against your gambling winnings, the increase in adjusted gross income from the gross gambling winnings can sometimes render other previously tax-free income taxable (case in point, Social Security income - sometimes). However, income from gambling winnings also increases your sales tax deduction! Pretty cool, huh? The IRS has established an allowable sales tax deduction based on your adjusted gross income. Even though when you deduct gambling losses to the extent of your gambling winnings you are in effect declaring that you did not make purchases subject to sales tax with this income, the IRS still lets you have the calculated sales tax deduction. William Bennett take note.
As always, none of this is meant to be construed as tax advice, just generalized ranting.
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