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Month: June 2014

U.S. Tax Court Changes IRA Rollover Rules

Flourishing Tax Principle #1:  It doesn’t pay to be too clever in your dealings with the Internal Revenue Service. Just ask Alvan and Elisa Bobrow.  Despite Alvan’s being a tax lawyer by profession, the U.S. Tax Court ruled that Alvan and Elisa violated the spirit of the 60-day rollover rules outlined in IRS Publication 590—Individual Retirement Arrangements.  That publication says that if you take money from your IRA, you have sixty days to put it back, without incurring either a tax or a penalty.  Further, Publication 590 says that you… Read more U.S. Tax Court Changes IRA Rollover Rules

A Notable May Birthday

Friedrich August von Hayek was born in Austria on May 8, 1899.  After World War I, he earned doctorates in Law and Science at the University of Vienna.  Upon receiving his degrees he joined a private seminar led by the greatest of the Austrian economists, Ludwig von Mises. The free market, Hayek said, was not designed by anyone, but evolved through the spontaneous ordering of self-interested human actions.  He showed, as have others, that so-called market failures are actually the failures of government central planners.  For example when the central… Read more A Notable May Birthday

From the Dark Side

Over the past few months, I’ve forced myself to read from among the plague of doom and gloom books that have been published since the Great Recession of 2008-2009.  Think of it as a vaccination to strengthen my psychological immune system.  (That’s why I’m passing my thoughts on to you, dear reader.) The quality of the analyses I’ve read has varied, from rambling to erudite.  There are some very smart people in the black sunrise industry, and there are a few people who are just a wee bit the other… Read more From the Dark Side