CONSIDERING A REVERSE MORTGAGE

Larry, I am thinking about doing a reverse mortgage. I think I understand all of the positive sides. Are there any negative sides to doing this?
Abe

Abe, as you know there are some positives to a reverse mortgage. They are a very good vehicle for certain individuals that are retired that have built up a lot of equity in their home, but are not ready to sell their house. You say that you know the positives so I will just tell you some of the things that we watch out for:

• Expect to pay some hefty fees. Many times we see an origination fee for as much as 2% of the mortgage and then additionally some fees on the balance.
• If you are a younger borrower, there are some big risks. If you live longer than you participate, you could possibly run out of money and won’t have any home equity to fall back on. Over the last decade, the average age of the risk mortgage borrower has fallen from 76 to 72. At age 62 this could cause a problem.
• There are other options that might work better for you. Even though you’ll have some counseling, which is required for first mortgages, taking out a home equity line of credit or downsizing your home might be an answer.
• You may not be able to borrow as much as you think. You will not be able to tap your home for its full price. There is a formula on the amount that you can take on depending on your age and other factors.

Before you determine if a reverse mortgage is right for you, we really would have to know your exact circumstances. You should discuss this with your financial counselor. If you are a client of the firm, please get in touch with me. If you are not a client of the firm, you should discuss this with your representative.

RECOVERY.COM IS SPOT ON IN TRACKING STIMULUS FUNDS

If you're interested in finding out where the stimulus money is going, click on www.recovery.com.

Recovery.com, a Web site run by government-procurement researcher Onvia in Seattle, is seen to be faster at providing information on how stimulus funds are being spent than Recovery.gov, the federal government's Web site for that purpose. Information on Recovery.com is more up to date, and it tracks local contracts in real time. Onvia's data show that stimulus spending is slow, perhaps because of excessive caution about results, but businesses are eagerly awaiting funds to get started on projects.

REPAIRS OR IMPROVEMENTS

Larry, I hope that you can help me. I am doing some work on my building. At one of your programs you mentioned that repairs are better than improvements, or vise verse. What is the difference?

Carmina

Carmina, when it comes to taxes, talking about repairs versus improvements can be tricky.

The cost of repairs made by your business is currently deductible. However, the cost of improvements must be capitalized and written off over time via depreciation deductions.

What To Do:

Separate repairs from improvements when work is done on the building. For example, don't lump standard repairs with a major renovation. If that occurs, it will take longer to write off the cost of the repairs. It is up to you to show that renovation expenses should be deducted currently instead of being capitalized.

Sometimes it's hard to tell the difference between a repair and an improvement. If you're having trouble telling the difference, remember these rules:

• A repair keeps the property in good operating condition.
• An improvement extends the useful life of the property.
• If the cost of the work amounts to 25% or more of the original cost, it will probably be classified as an improvement.

If you have any other questions, please let me know.

Larry Kopsa CPA

BEWARE: ANOTHER SCAM

Watch out for this scam. I have had a client that received the following email. Remember, the IRS never sends notices by email.

See www.snopes.com for more information.

Taxpayer ID: name-00000174073547US
Tax Type: INCOME TAX
Issue: Unreported/Underreported Income (Fraud Application)

Please review your tax statement on Internal Revenue Service (IRS) website (click on the link below):

review tax statement for taxpayer id: name-00000174073547US

Internal Revenue Service

DOCUMENTATION IS THE KEY

Occasionally I get asked about the deductibility of conventions and meetings to foreign countries. Attached is an article that provides a good summary. You will note that there is a list of the countries that have preference. Don’t forget, the key to “audit proofing” your records is Documentation... Documentation... Documentation!

http://www.bizactions.com/index.cfm/ba/e100/fa/117057430G1603J2842411P8P1402T1/

REMINDER: HOME TAX CREDIT DEADLINE IS QUICKLY APPROACHING

The deadline for qualifying for the Home Tax Credit is December 1, 2009. If you are considering purchasing your first home or have not owned a home in the last 3 years, time is quickly running out if you want to qualify for up to $8,000 in government money.

Here a summary of what you need to know.

1. To be considered a first-time homebuyer, you – and your spouse if you are married – must not have jointly or separately owned another principal residence during the three years prior to the date of purchase.
2. You cannot claim the credit before there is a completed sale and purchase of the residence. The sale and purchase are generally completed at the time of closing on the purchase.
3. To qualify for the credit, the completed purchase must occur before December 1, 2009.
4. The home must be located in the United States.
5. The credit is either 10 percent of the purchase price of the home or $8,000, whichever is less.
6. The amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joint filers.
7. The credit is fully refundable. A homebuyer with no taxable income, who qualifies for the credit, may file for the sole purpose of claiming the credit and receive a refund. The credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
8. The credit is claimed on IRS Form 5405, First-Time Homebuyers Credit.
9. Taxpayers can claim the credit for a qualified 2009 purchase on either their 2008 or 2009 tax return. For those who have filed a 2008 return, a Form 1040X, Amended U.S. Individual Income Tax Return can be filed in order to get a refund in 2009.
10. The credit for qualified 2009 purchases does not have to be repaid, as long as the home remains your main home for 36 months after the purchase date.

THE GOVERNMENT ISSUES "GAG ORDER" TO INSURANCE COMPANIES

HHS "Gag Order" Sent To Insurers Prompts Outrage From GOP

ABC World News reported during a Senate Finance Committee hearing "a war of words broke out over what one of the nation's largest health insurance companies is saying about the bill." The order "issued last night by the Department of Health and Human Services" tells "insurance companies who serve Medicare recipients to stop 'misleading' and 'confusing' mailings, saying, quote, 'we are instructing you to immediately discontinue all such mailings and remove any related materials from your websites.'

The extraordinary order comes in response to a mailing the Humana Insurance Company sent to customers in the Medicare Advantage Program," that "warned that because of Medicare cuts in the healthcare reform bills, quote, 'millions of seniors and disabled individuals could lose many important benefits and services.'"

Some legal experts "say the order is unconstitutional." The AP reports Peter Ashkenzaz, a spokesman for the Centers for Medicare and Medicaid, said, "Because these are Medicare contractors, we want to make sure that the health plans' communications to beneficiaries are not violating marketing requirements or using protected information like Medicare mailing lists improperly."

The Washington Post quotes Robert Zirkelbach, a spokesman for America's Health Insurance Plans, "the industry's main lobbying group, as saying, "Seniors have a right to know how the current reform proposals will affect the coverage they currently like and rely on."

DO THE MATH...HOW SMART WAS THE CASH FOR CLUNKERS PROGRAM?

The government said that they passed the Cash For Clunkers Program to help save the environment and to make sure that we are not as dependent on foreign oils. Check out the math. Maybe I am doing the math wrong.

A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year. A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.

So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year. They claim 700,000 vehicles so that's 224 million gallons saved per year. That equates to a bit over 5 million barrels of oil. Five million barrels of oil is about 5 hours worth of US consumption.

More importantly, 5 million barrels of oil at $70 per barrel (pretty close to the current price) costs about $350 million dollars. So, the government paid $3 billion of our tax dollars to save $350 million. We spent $8.57 for every dollar saved. How good a deal was that? They'll probably do a great job with health care though!! Hey - go figure!!

QUOTE OF THE WEEK

"Study without desire spoils the memory,
and it retains nothing that it takes in."
--Leonardo Da Vinci

DEDUCTING SCHOOL EXPENSES

One of the most popular questions I see around this time of year is whether you can deduct the cost of:

• band uniforms and instruments
• school uniforms for public, private or parochial school
• athletic team uniforms school supplies
• field trips
• fill-in-the-blank school expense that is sucking money out of my wallet.

The short answer is no. These expenses are considered personal expenses and are not deductible for federal income tax purposes for students in elementary and high school.

Larry Kopsa CPA

FUTURE TAX HIKES

It certainly seems like we are going to be facing some tax hikes in the future. We have been spending time with clients trying to determine if it is in their best financial interest to take income this year before the tax rates may increase. The link below is to a recent Wall Street Journal article that discusses some ideas on why and how to beat the tax increase.

Higher Taxes Are Coming. Are You Prepared?

HAPPY FEAST OF ST. MATTHEW - PATRON SAINT OF TAX GEEKS

It has been quite a streak of religious holidays! Rosh Hashanah and Eid were both celebrated over the weekend and now… It’s the Feast of St. Matthew (September 21st)!

Okay, many of you may not be familiar with the significance of the Feast of St. Matthew so here’s the scoop:

Matthew is one of the Twelve Apostles named in the New Testament of the Christian Bible and is the authoror the inspiration for the Book of Matthew. He was a tax collector – sometimes referred to as a “publican” – among the Jews, which was a pretty unpopular job back then, even worse than it is now. In the time of the Romans, tax collectors didn’t receive a salary; they were expected to earn a commission, of sorts, by collecting whatever extra they could in the guise of taxes. Most were cheats and widely despised. In fact, even Jesus lumped them together with the worst of the worst, having dinner with a group of people so terrible that the Pharisees were prompted to ask, “Why does your teacher eat with tax-collectors and sinners?”

Today, Matthew is recognized as a Saint in the Roman Catholic, Eastern Orthodox, Lutheran and Anglican churches.

He is the patron saint of:
Accountants
Bankers
Bookkeepers
Tax collectors

'SMALL BUSINESS OWNERS COULD BE WIPED OUT BY PROPOSED CARD-CHECK LEGISLATION'

(Examiner.com) -- Examiner.com reports that the federal card-check legislation would "destroy many local companies" according to a group of concerned small business owners in Colorado. The "so-called Employee Free Choice Act (EFCA)" will "'shut down job creation,'" says A. F. Gagliardi, Colorado's state director of the National Federation of Independent Business (NFIB) organization. "Gagliardi told Examiner.com that no business is too small to be a target of EFCA’s union organizing efforts and that "even businesses with as few as five employees will be targeted -- and may not even realize they are being organized until notified after the fact by the National Labor Relations Board. That, in turn, will set in motion a series of events that leads to binding wage and benefit arbitration for many small businesses." In regards to finding a legislative compromise, "Gagliardi says when it comes to EFCA, there can be none ... 'EFCA is a ‘solution’ in search of a problem.'" See more at <http://www.examiner.com/x-16299-Denver-Business-Commentary-Examiner~y2009m9d2-Small-business-owners-could-be-wiped-out-by-proposed-union-legislation>

QUOTE OF THE WEEK

Members of Congress should be
Compelled to wear uniforms
Just like NASCAR drivers…
So we could identify
Their corporate sponsors.

'THE 7 MOST OVERRATED BUSINESSES'

(Yahoo! Small Business) -- Smallbusinessanswers.yahoo.com reports that with higher unemployment, many Americans are looking to launch their own business. "But many people do a lousy job of picking businesses they can realistically turn into a profitable operation," the article notes. According to small business experts, some of the most difficult businesses to operate profitably are: "Restaurants; direct sales; online retail; high-end retail; independent consulting; franchise ownership; and traffic-driven Web sites." See the article at <http://smallbusinessanswers.yahoo.com/overrated>

NOW THAT’S SOME REFUND

Laura Schultz was expecting to hear from the IRS. After all, the Denver-area house cleaner owed the IRS about $80. But when she opened up a letter from the IRS, it wasn’t quite was she was expecting: a refund check for $122,783.51.

Schultz felt that it was a mistake – and it was. She called the IRS and they told her to destroy the check, which she did.

Of course, I know what you’re thinking: why didn’t she just keep the check? Because she knew better. I’ve gotten this call more than once from a client. The IRS always figures it out eventually (it’s pretty hard to misplace more than $100,000 for long) and you’re then stuck with repaying the principal plus interest.

And trust me, that’s not a letter that you want to get…Larry Kopsa CPA

INMATES RUNNING THE ASYLUM

It's bad enough that the person in charge of the IRS, Treasury Secretary Timothy Geithner, is an acknowledged tax cheat who claims not to understand how to use Turbo Tax. Now, Charlie Rangel, the Chairman of the House Ways & Means committee, which writes all of the tax laws, has been discovered to be hiding even more income and assets than were previously disclosed.

Here are just a few of the current news stories, courtesy of Drudge:

The Absent-Minded Chairman. Charlie Rangel wins the personal lottery.

OOPS! CHARLIE FORGOT THIS $1M HOUSE. REALTY BITES TAX-THEM-NOT-ME RANGEL

CHARLIE'S MORTGAGE BARES HOME UNTRUTH

Stop embarrassing us, Mr. Rangel. Resign

OPINION: 'The Real Culture War Is Over Capitalism'

(Wall Street Journal) -- In a recent op-ed appearing at WSJ.com, American Enterprise Institute president Arthur Brooks writes: "There is a major cultural schism developing in America. But it's not over abortion, same-sex marriage or home schooling ... The new divide centers on free enterprise -- the principle at the core of American culture." Mr. Brooks notes that "the Congressional Budget Office predicts $9.3 trillion in new debt over the coming decade" and predicts "government spending will grow continuously in the coming years as a percentage of the economy -- as will tax collections." He also notes that a recent "Rasmussen poll conducted to choose the better system between capitalism and socialism, 13% of respondents over 40 chose socialism. For those under 30, this percentage rose to 33%." He reasons that "advocates of free enterprise must learn from the growing grass-roots protests, and make the moral case for freedom and entrepreneurship. They have to declare that it is a moral issue to confiscate more income from the minority simply because the government can. It's also a moral issue to lower the rewards for entrepreneurial success, and to spend what we don't have without regard for our children's future." See the op-ed at <http://online.wsj.com/article/SB124104689179070747.html>

ACORN TAX ADVICE TO HOOKER

Late last week, news broke that officials with the group ACORN were secretly videotaped allegedly offering advice to folks posing as a pimp and prostitute. While accusations have flown about what was or was not said/meant/intended/edited, it’s clear that at least one of the officials was offering improper tax advice.

Here’s the set up for the video. James O’Keefe, a 25-year-old independent filmmaker, and a young woman paid a visit to an ACORN office in Baltimore. O’Keefe posed as an over the top pimp and the young woman pretended to be a prostitute. They told the officials at ACORN that they were hoping to find housing where the young woman could continue to operate as a prostitute. Both acknowledge and are advised that prostitution is illegal. And that’s where the fun begins.

The young woman is first advised that she should file taxes even if she’s working as a prostitute. This is absolutely true. Gains from illegal activities are still reportable and taxable.

Next, the staffer advises the young woman that she needs a “code” for her occupation for purposes of her tax return. She’s referring to the “Principal Business or Professional Activity Codes” that the IRS requires for Schedule C. The instructions state:

Select the category that best describes your primary business activity (for example, Real Estate). Then select the activity that best identifies the principal source of your sales or receipts (for example, real estate agent). Now find the six-digit code assigned to this activity (for example, 531210, the code for offices of real estate agents and brokers) and enter it on Schedule C or C-EZ, line B.

After the young woman has advised that she’s a prostitute, the ACORN staffer advises her to refer to herself as a freelance performing artist. Hmm… I think I would have suggested “812990 – All other personal services.”

The young woman tells an ACORN tax advisor that she earns about $8,000 per month. The ACORN employee, it has been reported, then advised the young woman that she would report $9,600 per year on her tax return (as opposed to $96,000). It sounded very deliberate when I first read the reports but watching the video made me change my mind. Tax evasion or bad math? I vote bad math on this one.

The staffer goes on to advise (properly) that self-employment income reported on a Schedule C would be subject to self-employment tax unless it could be offset by expenses. The staffer goes on to improperly advise that clothing and grooming would be deductible as expenses (who honestly believes that what a prostitute wears would pass muster with IRS as a uniform?). She also suggests that gifts to clients might be deductible – they are, to a point. But those would be subject to limits. The “pimp” then suggests that condoms could be considered a client gift. I actually think condoms would be considered a legitimate business expense (certainly ordinary and necessary in the trade of prostitution), not a gift.

The “pimp” and the young woman then tell the staffers that they plan to bring in young, illegal immigrants to work as prostitutes. The “pimp” wants to keep them off of the books but the staffer advises that they should issue 1099s, a good idea except for the teensy-weensy detail that they’re illegal. When the “pimp” points this out again, the staffer backtracks and says, “well then, you don’t have to worry about them.” She’s right in that, without a proper tax ID number, you can’t issue a 1099. But that doesn’t mean that you don’t report those workers, it means that you don’t hire them in the first place. That should have been the answer.

The most disturbing part of the video is when the staffer suggests that the girls who are being trafficked for the purpose of prostitution could be claimed as dependents. The IRS defines a dependent as a qualifying child, or a qualifying relative. There’s no way that these girls could be described as a “qualifying child.” They almost fit the definition of “qualifying relative” since the intent is to live with the taxpayer “all year as a member of your household” – however, there is a caveat that the relationship must not violate local law. Clearly, in this situation, it does violate local law on a whole bunch of levels.

So it’s a mixed bag on the advice. Occasionally on the right track. But mostly bad/wrong/illegal.A lot has been said on both sides about the tape, including noting the holes in the editing. I’m glad that I watched it, though, rather than relying on reports from either side of the debate. Is it scream worthy? You can watch the tape here and judge for yourself what you think:

http://biggovernment.com/2009/09/10/chaos-for-glory/#more-274

Reportedly, both staffers have since been fired.

HOBBY OR BUSINESS?

Larry, I have been raising horses for fun and have sold a few here and there. One of my buddies that I horse around with (no pun intended) suggested that I could maybe deduct my expenses as business expenses. What do you think?

Roger

Roger, this question is way too complicated to answer without discussing with you personally. If you are a client of our firm, call me and I will disucss with you to see if there is a possibility that your horse business is actually a trade of business or just a hobby. If your favorite activity does make a profit every year or so, there may be tax implications. You must report income to the IRS from almost all sources, including hobbies.

To give you an idea of what we would be looking at to determine if you have a trade or business or a hobby, here are the questions that we would be reviewing:

• Is the purpose of your activity to make a profit? Generally, your activity is considered a business if it is carried on with the reasonable expectation of earning a profit.


• Do you participate in your activity just for fun? Hobbies – also called not-for-profit activities – are those activities that are not pursued for profit.


• Do you depend on income from the activity? If so, your activity is likely considered a business.


• Have you changed methods of operation to improve profitability? If so, your hobby may actually be a business.


• Do you have the knowledge needed to carry on the activity as a successful business? People who carry out hobbies just for fun, often don’t have the business acumen to turn their not-for-profit activity into a profitable business venture.


• Have you made a profit in similar activities in the past? This may indicate your activity is a business rather than a not-for-profit hobby. An activity is presumed carried on for profit if it makes a profit in at least three of the last five tax years, including the current year – or at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses.


• Does the activity make a profit in some years? Even if your activity does not make a profit every year, it still may be considered a business.


• Do you expect to make a profit in the future from the appreciation of assets used in the activity? This indicates your activity may be a business rather than a hobby.

Note that if your activity is not carried on for profit, allowable deductions cannot exceed the gross receipts for the activity. If you are conducting a trade or business you may deduct your ordinary and necessary expenses.

It is a pleasure serving you.

Larry Kopsa CPA

QUOTE OF THE WEEK

My favorite poem is the one that starts
'Thirty days hath September'
because it actually tells you something."
--Groucho Marx

SOME JOB-SEARCH SPENDING CAN BE DEDUCTED FROM YOUR TAXES

Expenses incurred while looking for employment are often tax deductible, but you have to follow the rules laid down by the Internal Revenue Service. The first thing to consider is whether your search is targeted to a position similar to the one you last held. Career changers are out of luck when it comes to deducting job-search expenses. Under the "same occupation rule" you can claim expenses that you've incurred only in trying to find a job like the one you had before. The Wall Street Journal

HERE COMES INFLATION

According to economists the federal government will not be able to contain inflation because the government has pumped trillions of dollars in stimulus funds into the economy, the Federal Reserve will not be able to keep inflation in check in the next several years. While the central bank's unofficial inflation target is 2%, economists expect the price gauge tracked by the Fed to increase by an average of 3% annually from 2014 through 2018.

"An excessively stimulative fiscal policy and a complicated exit from its quantitative-easing policies over the medium term will result in the Fed tolerating a higher level of inflation than it desires," according to the National Association for Business Economics.

To see the entire article go to Bloomberg.

MISSPELLING YOUR NAME ON YOUR AIRLINE TICKET WILL NOW COST YOU $20-$150 OR MORE

American Airlines now charges 20 dollars to process a name correction (misspelled name). Even if you have to change one letter it is $20 bucks. Many people tend to use their nicknames when they buy a ticket and forget that they have to have the ticket match their government issued ID (drivers license or passport). A simple Chris to Kris will cost you $20. Steven to Stephen is $20. Matt to Mathew is also $20. Changing a complete name on most non-refundable tickets is not allowed.

IS CASH FOR CLUNKERS TAXABLE?

Larry, I heard on the radio that we will have to pay taxes on the money from the Cars for Clunkers. If so, I am really mad because nobody said we had to pay taxes on it. Is this true?

Robbet

Robbet, let's get this cleared up. No, the discount is not taxable to you the purchaser. Of course, if this is a business auto you cannot claim depreciation on the discount.A number of web sites and um, what’s the word, liars, opportunists, political wonks, media personalities, have indeed taken to the airwaves to try and stir the pot a little with respect to the CARS program. It certainly gets attention to scream that the program is some kind of secret tax-raising scheme. Only, they’re wrong. Think of it as a sale or discount: $4500 off! It’s not income to you, period.

Dealers are required to report the reimbursement from NHTSA as part of their gross income. This makes sense – they’re still grossing the same amount after the reimbursement. For example, if a dealer sells a $25,000 car to a customer for $22,000 ($25,000 less the CARS “discount” of $3,000), and the dealer next receives a check from NHTSA for $3,000, the dealer has still grossed $25,000. No harm, no foul. There’s no “extra” tax on the dealer, as has been reported. It’s the same reporting requirement as before.

But what about sales tax? In Nebraska they have ruled that the discount is subject to tax. Most states are not including the CARS portion for purposes of sales tax; there are a handful of states like Nebraska that are taking the position that the entire sale price, including the CARS portion, is subject to sales tax. You can check out which states are using this handy chart from Lexis. The good news?

It is a pleasure serving you.

Larry Kopsa CPA

DEDUCTIONS WHEN LOOKING FOR A JOB

Larry, thanks for all the great information. My wife just got transferred to Arkansas so in order to stay with her I need to find a new job. Are there any deductions for job hunting?

Theodore

Theodore, thanks for the kind words. I hope that you are successful in finding a new job. Here is the information that you need on job hunting expenses.

1. In order to deduct job search costs, the expenses must be spent on a job search in your current occupation. You may not deduct expenses incurred while looking for a job in a new occupation.

2. You can deduct employment and outplacement agency fees you pay while looking for a job in your present occupation. If your employer pays you back in a later year for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year.

3. You can deduct amounts you spend for preparing and mailing copies of a résumé to prospective employers as long as you are looking for a new job in your present occupation.

4. If you travel to an area to look for a new job in your present occupation, you may deduct travel expenses to and from the area. You can only deduct the travel expenses if the trip is primarily to look for a new job. The amount of time you spend on personal activity compared to the amount of time you spend looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job.

5. You cannot deduct job search expenses if there was a substantial break between the end of your last job and the time you begin looking for a new one.

6. You cannot deduct job search expenses if you are looking for a job for the first time.These expenses are only deductible if you itemize your deductions (long form).

You also need to keep in mind that the tax laws also allow a deduction for moving expenses. Let me know if you have any questions on moving expenses.

It is a pleasure serving you.

Larry Kopsa CPA

QUOTE OF THE WEEK

Let me win, but if I cannot win,
let me be brave in the attempt."
--Special Olympics motto

WHEN SHOULD I START TAKING SOCIAL SECURITY BENEFITS?

Do you think I should start drawing Social Security at age 62?

Bill

Bill, deciding when to start drawing Social Security has too many variables for me to give you a correct answer. There is a very good article addressing this issue in the AARP website
http://bulletin.aarp.org/yourmoney/socialsecurity/articles/when_to_collect_social_security.html

The article directs you to the Social Security Calculator that is located at http://www.ssa.gov/planners/calculators.htm

Remember if you start taking Social Security early you can only have earned income of $14,160 in 2009 or you will have to pay back $1 for every $2 over this amount.

Your accountant or the Social Security Administration should be able to provide you with more assistance on this matter.

Larry Kopsa CPA

GOVERNMENT TRUE-ISMS

A liberal is someone who feels a great debt to his fellow man ..which debt he proposes to pay off with your money. -G. Gordon Liddy