mcb39 Posted January 22, 2009 Report Share Posted January 22, 2009 Jainen...I wasn't saying that THIS couple wasn't trying hard enough. Being in a SE environment for 35 years; we would have considered many of those as excellent years if we had made close to $16000. Somehow you misread or I mis-wrote the intent of my post. I am in 100% agreement with you on this subject. :blink: Quote Link to comment Share on other sites More sharing options...
jainen Posted January 22, 2009 Report Share Posted January 22, 2009 >>I am in 100% agreement with you on this subject.<< I know you are, Marilyn, and I felt awkward taking those quotes out of their specific context to make my point for other readers. Your previous posts in this thread have been very sympathetic. Quote Link to comment Share on other sites More sharing options...
David1980 Posted January 22, 2009 Report Share Posted January 22, 2009 Personally I find it totally unfair that you can only deduct $3,000 capital losses per year. (This is in regards to comments of "If you don't like the tax code why do you do tax prep.") I'll protest and scream and write my congressmen about it. But when I'm preparing returns I do not deduct more than $3,000 capital losses per year. The tax law is the tax law, it is what it is. That does not take anyone's rights away to suggest it needs changes. If nobody ever suggested changes it would never change. Quote Link to comment Share on other sites More sharing options...
Cathy Posted January 22, 2009 Report Share Posted January 22, 2009 @Cathy - It's great that some families do take advantage of EIC and use it wisely instead of taking advantage of the fact it's there to plunder. I would have loved to see their surprised expressions. Just knowing they were excited would have made my day. Do you have a link or any more info on the 2009 EIC max? IRS Pub? With the new administration talking about increasing the EIC, I feel certain that the "2009 EIC max" will "go through the roof"! Also, for the ones of us that once used the good old pen and carbon paper method of preparing taxes, remember when a "Health Insurance Credit" was available in addition to the EIC for those taxpayers in certain income levels who purchased health insurance polices? Then...it was decided to include the extra credit in the EIC so taxpayers could have the money up front to help provide health insurance for their families....that's why I cringe when I hear once again about giving tax credits on tax returns to help taxpayers purchase health insurance. Guess there aren't too many left in Washington that knows it's already been done. Quote Link to comment Share on other sites More sharing options...
lbbwest Posted January 22, 2009 Report Share Posted January 22, 2009 Deductive reasoning- "based on deduction from accepted premises." Inductive reasoning - " form of reason in which the conclusion, though supported by the premises , DOES NOT FOLLOW FROM THEM NECESSARILY." The above definitions are from Webster's. I would encourage all tax professionals, or thinking individuals in general to reflect on the difference in the above two methods of reasoning. lbb Quote Link to comment Share on other sites More sharing options...
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