Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

To contact us Click HERE

Most all tax preparers understand how income levels and filing requirements are contingent upon filing status, age and the type of income clients receive. What is often overlooked, however, even when clients aren't required to file with Uncle Sam, is the fact that it may indeed advantage them to do so.

Not surprisingly, the Irs provides definitive instructions on the requirements for filing Forms 1040, 1040A, or 1040Ez. With all of the new prestige tax revisions and exceptions, some tax preparers are turning to Tax Cpe procedure materials or Ea Cpe curriculum to brush up on how these new revisions stand to advantage clients. Some continuing instruction tax courses are even focused exclusively on these new tax laws, showing tax preparers how to clients who fit into this scenario to get the greatest bang out of their tax returns.

Form 1040 Instructions

Quick Tips on Non-Required Filing Benefits

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

Homebuyer Credit

First time homebuyers are eligible for a maximum 00 or 00 if filing married status separately. To qualify, a someone must have entered into a compact on or before April 30th 2010 and have accomplished by September 30th 2010.

Tax Withheld

For taxpayers who have estimated their tax payments, had a former years overpayment, or had income tax withheld, they may be eligible for a refund.

Child Tax Credit

If a taxpayer has at least one child that qualifies and they didn't receive the full estimate of the current Child Tax prestige originally, they could get a refundable credit.

American occasion Credit

Given the newly renamed and vast Hope credit, taxpayers can claim this prestige for tuition and positive fees for undergraduate and post-secondary education. The maximum prestige per student is ,500.

Earned income Tax Credit

For those individuals who worked but earned dinky in 2010, this tax prestige may prove beneficial in considering to file because it may qualify them for a refund.

Health Coverage Tax Credit

This prestige is primarily for individuals who have received Adjustment aid (either Trade or Reemployment Trade). Further, those receiving Pbgc pension payments may also qualify and receive a credit.

Quick Tips of Non-Required Filing for Losses

Two Scenarios

When taxpayers have suffered an whole loss because of an speculation losses:

• Only if filed in 2010 can they carry that loss transmit and offset dutible capital gains in future years
• They can carry these losses as far back as 2008 and perhaps ask a reimbursement of carry forward, but, again, only if they filed in 2010.

When taxpayers have company losses that experienced a net operating loss (Nol) for 2010:
There are a plethora of resources ready that cover these details and the types of taxpayers that fall into this unique category. The key for enrolled agents, certified collective accounts and other tax professionals is to do the research, sign up for an enrolled agent class or look on the tax Cpe sites that showcase this information.

Irs Circular 230 Disclosure

Pursuant to the requirements of the Internal income aid Circular 230, we forewarn you that, to the extent any guidance relating to a Federal tax issue is contained in this communication, together with in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax connected penalties that may be imposed on you or any other someone under the Internal income Code, or (b) promoting, marketing or recommending to another someone any transaction or matter addressed in this communication.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!Is the IRS lying and defrauding the American people? Hear from the man who beat Video Clips. Duration : 45.58 Mins.

Robert Lawrence challenged the IRS claim that he is required to file a 1040 Income Tax Confession Form and pay a Federal Income Tax. The US Government charged him with committing “tax crimes”, but later dismissed these charges! The IRS dropped the case when they found out that Robert relied on the instructions within the IRS' 1040 booklet and the law. Robert had proof from these sources that he was not required to file. Hear how this living “David” won his victory over the paper-tiger “Goliath” (the IRS). Freedom Law School Speaker: Robert Lawrence Host: Peymon Mottahedeh
Keywords: googlevideo

President Obama's "Cash for Clunkers" Summer Jobs Program for Teens

To contact us Click HERE

Why was the August 2012 employment situation report so bad?

In a nutshell, it is because the companies that committed to participate in President Obama's latest ham-handed intervention in the economy, the 2012 Summer Jobs+ program, met their obligation and released their teen employees from their payrolls. The vast majority of the teens who were given summer jobs as part of the program have now gone back to school, and because they have done so, are no longer considered to be part the U.S. civilian labor force.

The removal of so many individuals from the ranks of the U.S. work force accounts for much of the reduction in the official U.S. unemployment rate from 8.3% to 8.1%.

Breaking down the August 2012 jobs numbers by age, we find that 204,000 teens are no longer being counted as being employed, while 250,000 fewer young adults between the ages of 20 and 24 are also being counted as having jobs.

Meanwhile, the number of individuals Age 25 or older counted as having jobs increased by 333,000. The resulting net change from July 2012 for the number of employed Americans was a loss of 119,000 jobs.

As of August 2012, there were 4,344,000 teens, 13,114,000 young adults and 124,643,000 adults Age 25 or older counted as being employed in the U.S. work force. The sudden disappearance of 202,000 jobs for teens represents a sudden decrease of four and a half percent in their numbers from the preceding month.

The following chart shows how that change affects both the unemployment rate for teens and what Age 16-19 unemployment rate would be if teens had the same labor force participation rate that they did in January 2009, when President Obama was sworn into office:

We've been tracking the influence of President Obama's 2012 Summer Jobs+ initiative upon the nation's jobs situation since the June 2012 jobs report came out, which showed an unexpected increase in the number of employed teens, seemingly at the expense of older members of the U.S. work force. That unusual pattern where teens, who lack the experience, education and skills that all older members of the U.S. work force have, suddenly seemed to be favored so much more by employers, continued in July 2012, even though the data clearly indicates that the program's hiring at its peak fell far short of stated expectations.

And now that the teen summer jobs program for 2012 has run its course, the employment data indicates that the "success" of the program was not sustained, with employment and labor force participation rate levels for U.S. teens immediately falling back to what they were before the program occurred. As far as the U.S. economy is concerned, it might as well never have happened.

Worse, it appears from the data that teens actually displaced older individuals from the U.S. job market while the program ran. The data for August 2012 suggests that the U.S. job market is going through somewhat of a correction, which we see in the sudden increase in the number of older individuals being counted as employed as compared to both June and July 2012, as they are no longer being directly displaced by the teens who gained employment as a result of the President's summer jobs program.

In a way, what we've just observed in the summer employment numbers for teens in the U.S. work force resembles President Obama's failed efforts to stimulate the auto industry with its "Cash for Clunkers" program in 2009 or to sustainably stimulate the housing market in 2010.

Like those economic policy failures, President Obama's latest economic initiative only succeeded in the equivalent of shifting around the deck chairs of the Titanic, imposing unnecessary additional costs on the U.S. economy at a time when it can not afford them. As a result, we must find that President Obama's economic policies are hurting the American people more than they are helping them.

What's Your Income Percentile?

To contact us Click HERE

Where do you rank in the U.S. income spectrum?

Now that the U.S. Census has released its total money income data it collected as part of its 2012 Annual Social and Economic Supplement survey, we can tell you almost exactly where you rank among American individuals, men (if you're a man), women (if you're a woman). Or, once you consider the combined income for your family or the members of your household, we can determine your percentile rank among each of those kinds of groupings!

It all starts below! Just enter your personal income, your family's income, which includes the incomes of your spouse and any dependents you might have, regardless of whether they live with you or not, and also the combined income of just the people who live within the same four walls of the household that you do and we'll tell you where you rank (if you're accessing this article through a site that republishes our RSS feed, click here to access the tool on our site.) And if you live outside the United States, be sure to convert your income into U.S. dollars first!

Income Data
Input Data	Values
Your Personal Total Money Income
Your Family's Combined Total Money Income
Your Household's Combined Total Money Income

	Your Income Percentile
	Individuals
	- Men
	- Women
	Families
	Households

The default data we've presented in the tool above represents the average total money income of U.S. individuals, families and households in 2011.

In the tool above, your percentile ranking indicates the percentage of Americans who either share your income or earn less than you do. As such, it tells you what percentage of the population you're above in the income earning food chain.

For example, a percentile ranking of zero would indicate that you are at the very bottom end of the American income spectrum, while a percentile ranking of 100 indicates that you are effectively at the very top end. A percentile rank of 50.0 would indicate that you're within spitting range of being the middle of all Americans (our tool should be able to place most people within 0.2% of their actual percentile ranking.)

In considering your percentile ranking, here's how many income-earning people, families and households there were in 2011:

• Individuals: 214,559,000
• Men: 106,228,000
• Women: 108,332,000
• Families: 80,529,000
• Households: 121,084,000

And here are our charts showing the cumulative distribution for U.S. families (left) and households (right). Click the images for larger versions:

The U.S. Census will report the data it collects for income earned in 2012 sometime in September 2013.

President Obama's Debt Achievement

To contact us Click HERE

How does President Obama's contribution to the national debt compare to those of other modern Presidents?

To answer that question, we're going to express the United States' total public debt outstanding in the more human scale terms of U.S. households, for which the U.S. Census provides data going back to 1967. Our chart below summarizes what we find when we calculate the national debt per U.S. household for each of the U.S. government's fiscal year from 1967 through the just ended fiscal year for 2012, both in nominal and real (inflation-adjusted) terms.

Here's how much each President since 1969 added to the U.S. national debt burden per household on average for each year they were in office, after adjusting for inflation (note: we're omitting the data for 1967 and 1968 since it coincides with only part of Lyndon Johnson's term in office):

After accounting for the effect of inflation, we find that President Obama is racking up national debt at a rate that's nearly three times faster than any other U.S. President in the modern era since 1969.

That's quite an achievement.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

To contact us Click HERE

Most all tax preparers understand how income levels and filing requirements are contingent upon filing status, age and the type of income clients receive. What is often overlooked, however, even when clients aren't required to file with Uncle Sam, is the fact that it may indeed advantage them to do so.

Not surprisingly, the Irs provides definitive instructions on the requirements for filing Forms 1040, 1040A, or 1040Ez. With all of the new prestige tax revisions and exceptions, some tax preparers are turning to Tax Cpe procedure materials or Ea Cpe curriculum to brush up on how these new revisions stand to advantage clients. Some continuing instruction tax courses are even focused exclusively on these new tax laws, showing tax preparers how to clients who fit into this scenario to get the greatest bang out of their tax returns.

Form 1040 Instructions

Quick Tips on Non-Required Filing Benefits

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

Homebuyer Credit

First time homebuyers are eligible for a maximum 00 or 00 if filing married status separately. To qualify, a someone must have entered into a compact on or before April 30th 2010 and have accomplished by September 30th 2010.

Tax Withheld

For taxpayers who have estimated their tax payments, had a former years overpayment, or had income tax withheld, they may be eligible for a refund.

Child Tax Credit

If a taxpayer has at least one child that qualifies and they didn't receive the full estimate of the current Child Tax prestige originally, they could get a refundable credit.

American occasion Credit

Given the newly renamed and vast Hope credit, taxpayers can claim this prestige for tuition and positive fees for undergraduate and post-secondary education. The maximum prestige per student is ,500.

Earned income Tax Credit

For those individuals who worked but earned dinky in 2010, this tax prestige may prove beneficial in considering to file because it may qualify them for a refund.

Health Coverage Tax Credit

This prestige is primarily for individuals who have received Adjustment aid (either Trade or Reemployment Trade). Further, those receiving Pbgc pension payments may also qualify and receive a credit.

Quick Tips of Non-Required Filing for Losses

Two Scenarios

When taxpayers have suffered an whole loss because of an speculation losses:

• Only if filed in 2010 can they carry that loss transmit and offset dutible capital gains in future years
• They can carry these losses as far back as 2008 and perhaps ask a reimbursement of carry forward, but, again, only if they filed in 2010.

When taxpayers have company losses that experienced a net operating loss (Nol) for 2010:
There are a plethora of resources ready that cover these details and the types of taxpayers that fall into this unique category. The key for enrolled agents, certified collective accounts and other tax professionals is to do the research, sign up for an enrolled agent class or look on the tax Cpe sites that showcase this information.

Irs Circular 230 Disclosure

Pursuant to the requirements of the Internal income aid Circular 230, we forewarn you that, to the extent any guidance relating to a Federal tax issue is contained in this communication, together with in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax connected penalties that may be imposed on you or any other someone under the Internal income Code, or (b) promoting, marketing or recommending to another someone any transaction or matter addressed in this communication.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!Is the IRS lying and defrauding the American people? Hear from the man who beat Video Clips. Duration : 45.58 Mins.

Robert Lawrence challenged the IRS claim that he is required to file a 1040 Income Tax Confession Form and pay a Federal Income Tax. The US Government charged him with committing “tax crimes”, but later dismissed these charges! The IRS dropped the case when they found out that Robert relied on the instructions within the IRS' 1040 booklet and the law. Robert had proof from these sources that he was not required to file. Hear how this living “David” won his victory over the paper-tiger “Goliath” (the IRS). Freedom Law School Speaker: Robert Lawrence Host: Peymon Mottahedeh
Keywords: googlevideo

President Obama's "Cash for Clunkers" Summer Jobs Program for Teens

To contact us Click HERE

Why was the August 2012 employment situation report so bad?

In a nutshell, it is because the companies that committed to participate in President Obama's latest ham-handed intervention in the economy, the 2012 Summer Jobs+ program, met their obligation and released their teen employees from their payrolls. The vast majority of the teens who were given summer jobs as part of the program have now gone back to school, and because they have done so, are no longer considered to be part the U.S. civilian labor force.

The removal of so many individuals from the ranks of the U.S. work force accounts for much of the reduction in the official U.S. unemployment rate from 8.3% to 8.1%.

Breaking down the August 2012 jobs numbers by age, we find that 204,000 teens are no longer being counted as being employed, while 250,000 fewer young adults between the ages of 20 and 24 are also being counted as having jobs.

Meanwhile, the number of individuals Age 25 or older counted as having jobs increased by 333,000. The resulting net change from July 2012 for the number of employed Americans was a loss of 119,000 jobs.

As of August 2012, there were 4,344,000 teens, 13,114,000 young adults and 124,643,000 adults Age 25 or older counted as being employed in the U.S. work force. The sudden disappearance of 202,000 jobs for teens represents a sudden decrease of four and a half percent in their numbers from the preceding month.

The following chart shows how that change affects both the unemployment rate for teens and what Age 16-19 unemployment rate would be if teens had the same labor force participation rate that they did in January 2009, when President Obama was sworn into office:

We've been tracking the influence of President Obama's 2012 Summer Jobs+ initiative upon the nation's jobs situation since the June 2012 jobs report came out, which showed an unexpected increase in the number of employed teens, seemingly at the expense of older members of the U.S. work force. That unusual pattern where teens, who lack the experience, education and skills that all older members of the U.S. work force have, suddenly seemed to be favored so much more by employers, continued in July 2012, even though the data clearly indicates that the program's hiring at its peak fell far short of stated expectations.

And now that the teen summer jobs program for 2012 has run its course, the employment data indicates that the "success" of the program was not sustained, with employment and labor force participation rate levels for U.S. teens immediately falling back to what they were before the program occurred. As far as the U.S. economy is concerned, it might as well never have happened.

Worse, it appears from the data that teens actually displaced older individuals from the U.S. job market while the program ran. The data for August 2012 suggests that the U.S. job market is going through somewhat of a correction, which we see in the sudden increase in the number of older individuals being counted as employed as compared to both June and July 2012, as they are no longer being directly displaced by the teens who gained employment as a result of the President's summer jobs program.

In a way, what we've just observed in the summer employment numbers for teens in the U.S. work force resembles President Obama's failed efforts to stimulate the auto industry with its "Cash for Clunkers" program in 2009 or to sustainably stimulate the housing market in 2010.

Like those economic policy failures, President Obama's latest economic initiative only succeeded in the equivalent of shifting around the deck chairs of the Titanic, imposing unnecessary additional costs on the U.S. economy at a time when it can not afford them. As a result, we must find that President Obama's economic policies are hurting the American people more than they are helping them.

What's Your Income Percentile?

To contact us Click HERE

Where do you rank in the U.S. income spectrum?

Now that the U.S. Census has released its total money income data it collected as part of its 2012 Annual Social and Economic Supplement survey, we can tell you almost exactly where you rank among American individuals, men (if you're a man), women (if you're a woman). Or, once you consider the combined income for your family or the members of your household, we can determine your percentile rank among each of those kinds of groupings!

It all starts below! Just enter your personal income, your family's income, which includes the incomes of your spouse and any dependents you might have, regardless of whether they live with you or not, and also the combined income of just the people who live within the same four walls of the household that you do and we'll tell you where you rank (if you're accessing this article through a site that republishes our RSS feed, click here to access the tool on our site.) And if you live outside the United States, be sure to convert your income into U.S. dollars first!

Income Data
Input Data	Values
Your Personal Total Money Income
Your Family's Combined Total Money Income
Your Household's Combined Total Money Income

	Your Income Percentile
	Individuals
	- Men
	- Women
	Families
	Households

The default data we've presented in the tool above represents the average total money income of U.S. individuals, families and households in 2011.

In the tool above, your percentile ranking indicates the percentage of Americans who either share your income or earn less than you do. As such, it tells you what percentage of the population you're above in the income earning food chain.

For example, a percentile ranking of zero would indicate that you are at the very bottom end of the American income spectrum, while a percentile ranking of 100 indicates that you are effectively at the very top end. A percentile rank of 50.0 would indicate that you're within spitting range of being the middle of all Americans (our tool should be able to place most people within 0.2% of their actual percentile ranking.)

In considering your percentile ranking, here's how many income-earning people, families and households there were in 2011:

• Individuals: 214,559,000
• Men: 106,228,000
• Women: 108,332,000
• Families: 80,529,000
• Households: 121,084,000

And here are our charts showing the cumulative distribution for U.S. families (left) and households (right). Click the images for larger versions:

The U.S. Census will report the data it collects for income earned in 2012 sometime in September 2013.

President Obama's Debt Achievement

To contact us Click HERE

How does President Obama's contribution to the national debt compare to those of other modern Presidents?

To answer that question, we're going to express the United States' total public debt outstanding in the more human scale terms of U.S. households, for which the U.S. Census provides data going back to 1967. Our chart below summarizes what we find when we calculate the national debt per U.S. household for each of the U.S. government's fiscal year from 1967 through the just ended fiscal year for 2012, both in nominal and real (inflation-adjusted) terms.

Here's how much each President since 1969 added to the U.S. national debt burden per household on average for each year they were in office, after adjusting for inflation (note: we're omitting the data for 1967 and 1968 since it coincides with only part of Lyndon Johnson's term in office):

After accounting for the effect of inflation, we find that President Obama is racking up national debt at a rate that's nearly three times faster than any other U.S. President in the modern era since 1969.

That's quite an achievement.

U.S. and China Trade Growth Hits Zero

To contact us Click HERE

Looking at the just published trade data between the U.S. and China, it would appear that both the U.S. and China have fallen into recession. Both nations are now showing near-zero annualized growth rates for the value of goods and services traded between them in August 2012:

That's a change from what we observed back in August, when it appears that China's economy had rebounded somewhat from a slow spring, based on the data then that only covered the period through June 2012.

Since then, the annualized growth rate of U.S. exports to China has fallen back to the low single digits that are consistent with that nation's economy being in recession. Going by international trade data, China entered into recession back in December 2011.

Meanwhile, the year-over-year growth rate of U.S. imports from China has turned negative for the first time since November 2009, when the U.S. was still coming out of recession.

So far, that's consistent with our earlier observation that the U.S. economy was in a microrecession in the second quarter of 2012, as the trade data collected and reported by the U.S. Census tends to lag the actual state of the economy by a number of months. The growth rate of the U.S. imports from China had last been negative in the period from November 2008 through November 2009, although officially, the previous recession in the U.S. ran from December 2007 through June 2009, with fairly mild recessionary conditions prevailing through the first half of 2008.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

To contact us Click HERE

Most all tax preparers understand how income levels and filing requirements are contingent upon filing status, age and the type of income clients receive. What is often overlooked, however, even when clients aren't required to file with Uncle Sam, is the fact that it may indeed advantage them to do so.

Not surprisingly, the Irs provides definitive instructions on the requirements for filing Forms 1040, 1040A, or 1040Ez. With all of the new prestige tax revisions and exceptions, some tax preparers are turning to Tax Cpe procedure materials or Ea Cpe curriculum to brush up on how these new revisions stand to advantage clients. Some continuing instruction tax courses are even focused exclusively on these new tax laws, showing tax preparers how to clients who fit into this scenario to get the greatest bang out of their tax returns.

Form 1040 Instructions

Quick Tips on Non-Required Filing Benefits

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

Homebuyer Credit

First time homebuyers are eligible for a maximum 00 or 00 if filing married status separately. To qualify, a someone must have entered into a compact on or before April 30th 2010 and have accomplished by September 30th 2010.

Tax Withheld

For taxpayers who have estimated their tax payments, had a former years overpayment, or had income tax withheld, they may be eligible for a refund.

Child Tax Credit

If a taxpayer has at least one child that qualifies and they didn't receive the full estimate of the current Child Tax prestige originally, they could get a refundable credit.

American occasion Credit

Given the newly renamed and vast Hope credit, taxpayers can claim this prestige for tuition and positive fees for undergraduate and post-secondary education. The maximum prestige per student is ,500.

Earned income Tax Credit

For those individuals who worked but earned dinky in 2010, this tax prestige may prove beneficial in considering to file because it may qualify them for a refund.

Health Coverage Tax Credit

This prestige is primarily for individuals who have received Adjustment aid (either Trade or Reemployment Trade). Further, those receiving Pbgc pension payments may also qualify and receive a credit.

Quick Tips of Non-Required Filing for Losses

Two Scenarios

When taxpayers have suffered an whole loss because of an speculation losses:

• Only if filed in 2010 can they carry that loss transmit and offset dutible capital gains in future years
• They can carry these losses as far back as 2008 and perhaps ask a reimbursement of carry forward, but, again, only if they filed in 2010.

When taxpayers have company losses that experienced a net operating loss (Nol) for 2010:
There are a plethora of resources ready that cover these details and the types of taxpayers that fall into this unique category. The key for enrolled agents, certified collective accounts and other tax professionals is to do the research, sign up for an enrolled agent class or look on the tax Cpe sites that showcase this information.

Irs Circular 230 Disclosure

Pursuant to the requirements of the Internal income aid Circular 230, we forewarn you that, to the extent any guidance relating to a Federal tax issue is contained in this communication, together with in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax connected penalties that may be imposed on you or any other someone under the Internal income Code, or (b) promoting, marketing or recommending to another someone any transaction or matter addressed in this communication.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!Is the IRS lying and defrauding the American people? Hear from the man who beat Video Clips. Duration : 45.58 Mins.

Robert Lawrence challenged the IRS claim that he is required to file a 1040 Income Tax Confession Form and pay a Federal Income Tax. The US Government charged him with committing “tax crimes”, but later dismissed these charges! The IRS dropped the case when they found out that Robert relied on the instructions within the IRS' 1040 booklet and the law. Robert had proof from these sources that he was not required to file. Hear how this living “David” won his victory over the paper-tiger “Goliath” (the IRS). Freedom Law School Speaker: Robert Lawrence Host: Peymon Mottahedeh
Keywords: googlevideo

President Obama's "Cash for Clunkers" Summer Jobs Program for Teens

To contact us Click HERE

Why was the August 2012 employment situation report so bad?

In a nutshell, it is because the companies that committed to participate in President Obama's latest ham-handed intervention in the economy, the 2012 Summer Jobs+ program, met their obligation and released their teen employees from their payrolls. The vast majority of the teens who were given summer jobs as part of the program have now gone back to school, and because they have done so, are no longer considered to be part the U.S. civilian labor force.

The removal of so many individuals from the ranks of the U.S. work force accounts for much of the reduction in the official U.S. unemployment rate from 8.3% to 8.1%.

Breaking down the August 2012 jobs numbers by age, we find that 204,000 teens are no longer being counted as being employed, while 250,000 fewer young adults between the ages of 20 and 24 are also being counted as having jobs.

Meanwhile, the number of individuals Age 25 or older counted as having jobs increased by 333,000. The resulting net change from July 2012 for the number of employed Americans was a loss of 119,000 jobs.

As of August 2012, there were 4,344,000 teens, 13,114,000 young adults and 124,643,000 adults Age 25 or older counted as being employed in the U.S. work force. The sudden disappearance of 202,000 jobs for teens represents a sudden decrease of four and a half percent in their numbers from the preceding month.

The following chart shows how that change affects both the unemployment rate for teens and what Age 16-19 unemployment rate would be if teens had the same labor force participation rate that they did in January 2009, when President Obama was sworn into office:

We've been tracking the influence of President Obama's 2012 Summer Jobs+ initiative upon the nation's jobs situation since the June 2012 jobs report came out, which showed an unexpected increase in the number of employed teens, seemingly at the expense of older members of the U.S. work force. That unusual pattern where teens, who lack the experience, education and skills that all older members of the U.S. work force have, suddenly seemed to be favored so much more by employers, continued in July 2012, even though the data clearly indicates that the program's hiring at its peak fell far short of stated expectations.

And now that the teen summer jobs program for 2012 has run its course, the employment data indicates that the "success" of the program was not sustained, with employment and labor force participation rate levels for U.S. teens immediately falling back to what they were before the program occurred. As far as the U.S. economy is concerned, it might as well never have happened.

Worse, it appears from the data that teens actually displaced older individuals from the U.S. job market while the program ran. The data for August 2012 suggests that the U.S. job market is going through somewhat of a correction, which we see in the sudden increase in the number of older individuals being counted as employed as compared to both June and July 2012, as they are no longer being directly displaced by the teens who gained employment as a result of the President's summer jobs program.

In a way, what we've just observed in the summer employment numbers for teens in the U.S. work force resembles President Obama's failed efforts to stimulate the auto industry with its "Cash for Clunkers" program in 2009 or to sustainably stimulate the housing market in 2010.

Like those economic policy failures, President Obama's latest economic initiative only succeeded in the equivalent of shifting around the deck chairs of the Titanic, imposing unnecessary additional costs on the U.S. economy at a time when it can not afford them. As a result, we must find that President Obama's economic policies are hurting the American people more than they are helping them.

What's Your Income Percentile?

To contact us Click HERE

Where do you rank in the U.S. income spectrum?

Now that the U.S. Census has released its total money income data it collected as part of its 2012 Annual Social and Economic Supplement survey, we can tell you almost exactly where you rank among American individuals, men (if you're a man), women (if you're a woman). Or, once you consider the combined income for your family or the members of your household, we can determine your percentile rank among each of those kinds of groupings!

It all starts below! Just enter your personal income, your family's income, which includes the incomes of your spouse and any dependents you might have, regardless of whether they live with you or not, and also the combined income of just the people who live within the same four walls of the household that you do and we'll tell you where you rank (if you're accessing this article through a site that republishes our RSS feed, click here to access the tool on our site.) And if you live outside the United States, be sure to convert your income into U.S. dollars first!

Income Data
Input Data	Values
Your Personal Total Money Income
Your Family's Combined Total Money Income
Your Household's Combined Total Money Income

	Your Income Percentile
	Individuals
	- Men
	- Women
	Families
	Households

The default data we've presented in the tool above represents the average total money income of U.S. individuals, families and households in 2011.

In the tool above, your percentile ranking indicates the percentage of Americans who either share your income or earn less than you do. As such, it tells you what percentage of the population you're above in the income earning food chain.

For example, a percentile ranking of zero would indicate that you are at the very bottom end of the American income spectrum, while a percentile ranking of 100 indicates that you are effectively at the very top end. A percentile rank of 50.0 would indicate that you're within spitting range of being the middle of all Americans (our tool should be able to place most people within 0.2% of their actual percentile ranking.)

In considering your percentile ranking, here's how many income-earning people, families and households there were in 2011:

• Individuals: 214,559,000
• Men: 106,228,000
• Women: 108,332,000
• Families: 80,529,000
• Households: 121,084,000

And here are our charts showing the cumulative distribution for U.S. families (left) and households (right). Click the images for larger versions:

The U.S. Census will report the data it collects for income earned in 2012 sometime in September 2013.

President Obama's Debt Achievement

To contact us Click HERE

How does President Obama's contribution to the national debt compare to those of other modern Presidents?

To answer that question, we're going to express the United States' total public debt outstanding in the more human scale terms of U.S. households, for which the U.S. Census provides data going back to 1967. Our chart below summarizes what we find when we calculate the national debt per U.S. household for each of the U.S. government's fiscal year from 1967 through the just ended fiscal year for 2012, both in nominal and real (inflation-adjusted) terms.

Here's how much each President since 1969 added to the U.S. national debt burden per household on average for each year they were in office, after adjusting for inflation (note: we're omitting the data for 1967 and 1968 since it coincides with only part of Lyndon Johnson's term in office):

After accounting for the effect of inflation, we find that President Obama is racking up national debt at a rate that's nearly three times faster than any other U.S. President in the modern era since 1969.

That's quite an achievement.

Expected Future Dividends Continue Flatlining

To contact us Click HERE

Eavesdropping in the comment threads at Slope of Hope....

boopoo - Detour Ahead

Earnings Graph Reminder

http://cdn.socialtrade.com/comsys/imgs/2012-10-08_1242_l4khWG_m.png

COTrader

More important in my opinion.....

http://politicalcalculations.blogspot.com/2012/10/dividends- us-continuing-descent-toward.html#.UHWmdFFRD1A

boopoo - Detour Ahead

Don't Companies cut Divi's after the fact ? " Oh, shit our stock price has been cut in half, we better cut our Divi at the next board meeting"

COTrader

Not the highest quality companies. But for the highest quality companies, forward expectations for dividend growth has flatlined - that tells you they aren't confident enough in future cash flow to grant higher payouts.

If the highest quality companies aren't increasing payouts, lower quality companies will be cutting dividends.

This confirms the weak economic environment. And is why I'm comfortable saying that 1450 on the SPX will remain at the upper bound of this move.

Think the top is in for the Russell 2k.

We'll interject here to note that COTrader is a very sharp observer. Forward expectations for dividend growth at the "highest quality" companies has indeed flatlined - and has for months. Here's the evidence for that, with the highest quality companies being represented by the S&P 500:

The wild card right now is the Fed's latest quantitative easing exercise, which as best as we can tell right now, hasn't done much to elevate stock prices. We suspect the reason why is because of how the Fed has executed it so far, focusing on purchasing mortgage backed securities as opposed to the outright massive purchases of U.S. Treasuries that characterized previous rounds, which provides a more direct boost to equity prices by lowering long term interest rates.

Still, this flatlining of expected future dividends is a big reason why we've been so bearish regarding the economic outlook for 2013. A relatively healthy stock market would see these values for each future quarter rise over time. For all practical purposes, that hasn't happened in the stock market since the end of the earnings season for 2012-Q1....

President Obama's "Cash for Clunkers" Summer Jobs Program for Teens

To contact us Click HERE

Why was the August 2012 employment situation report so bad?

In a nutshell, it is because the companies that committed to participate in President Obama's latest ham-handed intervention in the economy, the 2012 Summer Jobs+ program, met their obligation and released their teen employees from their payrolls. The vast majority of the teens who were given summer jobs as part of the program have now gone back to school, and because they have done so, are no longer considered to be part the U.S. civilian labor force.

The removal of so many individuals from the ranks of the U.S. work force accounts for much of the reduction in the official U.S. unemployment rate from 8.3% to 8.1%.

Breaking down the August 2012 jobs numbers by age, we find that 204,000 teens are no longer being counted as being employed, while 250,000 fewer young adults between the ages of 20 and 24 are also being counted as having jobs.

Meanwhile, the number of individuals Age 25 or older counted as having jobs increased by 333,000. The resulting net change from July 2012 for the number of employed Americans was a loss of 119,000 jobs.

As of August 2012, there were 4,344,000 teens, 13,114,000 young adults and 124,643,000 adults Age 25 or older counted as being employed in the U.S. work force. The sudden disappearance of 202,000 jobs for teens represents a sudden decrease of four and a half percent in their numbers from the preceding month.

The following chart shows how that change affects both the unemployment rate for teens and what Age 16-19 unemployment rate would be if teens had the same labor force participation rate that they did in January 2009, when President Obama was sworn into office:

We've been tracking the influence of President Obama's 2012 Summer Jobs+ initiative upon the nation's jobs situation since the June 2012 jobs report came out, which showed an unexpected increase in the number of employed teens, seemingly at the expense of older members of the U.S. work force. That unusual pattern where teens, who lack the experience, education and skills that all older members of the U.S. work force have, suddenly seemed to be favored so much more by employers, continued in July 2012, even though the data clearly indicates that the program's hiring at its peak fell far short of stated expectations.

And now that the teen summer jobs program for 2012 has run its course, the employment data indicates that the "success" of the program was not sustained, with employment and labor force participation rate levels for U.S. teens immediately falling back to what they were before the program occurred. As far as the U.S. economy is concerned, it might as well never have happened.

Worse, it appears from the data that teens actually displaced older individuals from the U.S. job market while the program ran. The data for August 2012 suggests that the U.S. job market is going through somewhat of a correction, which we see in the sudden increase in the number of older individuals being counted as employed as compared to both June and July 2012, as they are no longer being directly displaced by the teens who gained employment as a result of the President's summer jobs program.

In a way, what we've just observed in the summer employment numbers for teens in the U.S. work force resembles President Obama's failed efforts to stimulate the auto industry with its "Cash for Clunkers" program in 2009 or to sustainably stimulate the housing market in 2010.

Like those economic policy failures, President Obama's latest economic initiative only succeeded in the equivalent of shifting around the deck chairs of the Titanic, imposing unnecessary additional costs on the U.S. economy at a time when it can not afford them. As a result, we must find that President Obama's economic policies are hurting the American people more than they are helping them.

What's Your Income Percentile?

To contact us Click HERE

Where do you rank in the U.S. income spectrum?

Now that the U.S. Census has released its total money income data it collected as part of its 2012 Annual Social and Economic Supplement survey, we can tell you almost exactly where you rank among American individuals, men (if you're a man), women (if you're a woman). Or, once you consider the combined income for your family or the members of your household, we can determine your percentile rank among each of those kinds of groupings!

It all starts below! Just enter your personal income, your family's income, which includes the incomes of your spouse and any dependents you might have, regardless of whether they live with you or not, and also the combined income of just the people who live within the same four walls of the household that you do and we'll tell you where you rank (if you're accessing this article through a site that republishes our RSS feed, click here to access the tool on our site.) And if you live outside the United States, be sure to convert your income into U.S. dollars first!

Income Data
Input Data	Values
Your Personal Total Money Income
Your Family's Combined Total Money Income
Your Household's Combined Total Money Income

	Your Income Percentile
	Individuals
	- Men
	- Women
	Families
	Households

The default data we've presented in the tool above represents the average total money income of U.S. individuals, families and households in 2011.

In the tool above, your percentile ranking indicates the percentage of Americans who either share your income or earn less than you do. As such, it tells you what percentage of the population you're above in the income earning food chain.

For example, a percentile ranking of zero would indicate that you are at the very bottom end of the American income spectrum, while a percentile ranking of 100 indicates that you are effectively at the very top end. A percentile rank of 50.0 would indicate that you're within spitting range of being the middle of all Americans (our tool should be able to place most people within 0.2% of their actual percentile ranking.)

In considering your percentile ranking, here's how many income-earning people, families and households there were in 2011:

• Individuals: 214,559,000
• Men: 106,228,000
• Women: 108,332,000
• Families: 80,529,000
• Households: 121,084,000

And here are our charts showing the cumulative distribution for U.S. families (left) and households (right). Click the images for larger versions:

The U.S. Census will report the data it collects for income earned in 2012 sometime in September 2013.

President Obama's Debt Achievement

To contact us Click HERE

How does President Obama's contribution to the national debt compare to those of other modern Presidents?

To answer that question, we're going to express the United States' total public debt outstanding in the more human scale terms of U.S. households, for which the U.S. Census provides data going back to 1967. Our chart below summarizes what we find when we calculate the national debt per U.S. household for each of the U.S. government's fiscal year from 1967 through the just ended fiscal year for 2012, both in nominal and real (inflation-adjusted) terms.

Here's how much each President since 1969 added to the U.S. national debt burden per household on average for each year they were in office, after adjusting for inflation (note: we're omitting the data for 1967 and 1968 since it coincides with only part of Lyndon Johnson's term in office):

After accounting for the effect of inflation, we find that President Obama is racking up national debt at a rate that's nearly three times faster than any other U.S. President in the modern era since 1969.

That's quite an achievement.

Updated: Using Gas Prices to Forecast Unemployment

To contact us Click HERE

Good morning, White House Staffer!

Say, do you remember when we said you should enjoy it while you can as the average price of gasoline in the U.S. dropped below $3.50 per gallon back in June?

Summer's over dude, and has been for well over a month!

Although your boss' spokesman is chillin' from his job (such strange behavior with the national election less than six weeks away, but what should we expect when the boss himself has been phoning it in all this time!), maybe you should have spent more time working on real, non-election-related stuff for the last four months, because gas prices in the U.S. have spiked sharply upward. Again.

So, to help you better understand why you really don't want that to happen, we've updated our tool that allows you to roughly forecast what today's high gas prices will mean for tomorrow's soon-to-come unemployment rate in the U.S. Basically, we've incorporated all the available data through September 2012 and accounted for inflation through that month as well.

Average Gasoline Price Trends for Washington D.C. and USA Washington D.C. Gas Prices Provided by GasBuddy.com

The Future Unemployment Rate Enter: Today's Average USA Gasoline Price U.S. Unemployment Rate In Two Years* * If High Gas Prices Are Sustained.... See you tomorrow!

Just for fun, you should try this exercise using yesterday's average price of gasoline in California, $4.67.

"Good Morning, White House Staffer" is a special feature we run periodically whenever the average U.S. national retail price for gasoline rises above $3.50 per gallon!

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

To contact us Click HERE

Most all tax preparers understand how income levels and filing requirements are contingent upon filing status, age and the type of income clients receive. What is often overlooked, however, even when clients aren't required to file with Uncle Sam, is the fact that it may indeed advantage them to do so.

Not surprisingly, the Irs provides definitive instructions on the requirements for filing Forms 1040, 1040A, or 1040Ez. With all of the new prestige tax revisions and exceptions, some tax preparers are turning to Tax Cpe procedure materials or Ea Cpe curriculum to brush up on how these new revisions stand to advantage clients. Some continuing instruction tax courses are even focused exclusively on these new tax laws, showing tax preparers how to clients who fit into this scenario to get the greatest bang out of their tax returns.

Form 1040 Instructions

Quick Tips on Non-Required Filing Benefits

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!

Homebuyer Credit

First time homebuyers are eligible for a maximum 00 or 00 if filing married status separately. To qualify, a someone must have entered into a compact on or before April 30th 2010 and have accomplished by September 30th 2010.

Tax Withheld

For taxpayers who have estimated their tax payments, had a former years overpayment, or had income tax withheld, they may be eligible for a refund.

Child Tax Credit

If a taxpayer has at least one child that qualifies and they didn't receive the full estimate of the current Child Tax prestige originally, they could get a refundable credit.

American occasion Credit

Given the newly renamed and vast Hope credit, taxpayers can claim this prestige for tuition and positive fees for undergraduate and post-secondary education. The maximum prestige per student is ,500.

Earned income Tax Credit

For those individuals who worked but earned dinky in 2010, this tax prestige may prove beneficial in considering to file because it may qualify them for a refund.

Health Coverage Tax Credit

This prestige is primarily for individuals who have received Adjustment aid (either Trade or Reemployment Trade). Further, those receiving Pbgc pension payments may also qualify and receive a credit.

Quick Tips of Non-Required Filing for Losses

Two Scenarios

When taxpayers have suffered an whole loss because of an speculation losses:

• Only if filed in 2010 can they carry that loss transmit and offset dutible capital gains in future years
• They can carry these losses as far back as 2008 and perhaps ask a reimbursement of carry forward, but, again, only if they filed in 2010.

When taxpayers have company losses that experienced a net operating loss (Nol) for 2010:
There are a plethora of resources ready that cover these details and the types of taxpayers that fall into this unique category. The key for enrolled agents, certified collective accounts and other tax professionals is to do the research, sign up for an enrolled agent class or look on the tax Cpe sites that showcase this information.

Irs Circular 230 Disclosure

Pursuant to the requirements of the Internal income aid Circular 230, we forewarn you that, to the extent any guidance relating to a Federal tax issue is contained in this communication, together with in any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax connected penalties that may be imposed on you or any other someone under the Internal income Code, or (b) promoting, marketing or recommending to another someone any transaction or matter addressed in this communication.

Why Filing Taxes for Your Client, Even When They Aren't Required, Might Be a Good Thing!Is the IRS lying and defrauding the American people? Hear from the man who beat Video Clips. Duration : 45.58 Mins.

Robert Lawrence challenged the IRS claim that he is required to file a 1040 Income Tax Confession Form and pay a Federal Income Tax. The US Government charged him with committing “tax crimes”, but later dismissed these charges! The IRS dropped the case when they found out that Robert relied on the instructions within the IRS' 1040 booklet and the law. Robert had proof from these sources that he was not required to file. Hear how this living “David” won his victory over the paper-tiger “Goliath” (the IRS). Freedom Law School Speaker: Robert Lawrence Host: Peymon Mottahedeh
Keywords: googlevideo