Archive for February, 2008

Mining Industry and Water Protection

Friday, February 29th, 2008

Modern mines collect veins of materials, which have been trapped over millions of years in the sediment. Once out in the open they can get into the ground water and move down hill with the normal erosion patterns and water flows. This is because the minerals have been buried for centuries underneath in layers from previous periods. In the old Berkeley Pit, a copper mine which is closed not far from the Sunlight Goldmine in Montana, the rain water mixing with the minerals left in the bottom of the Pit was quite toxic and contained arsenic, which is harmful in large amounts to humans and animals. Although arsenic is a poison, it is part of the natural occurring minerals in nature and common to that area. Small traces are not to bad, but once they become to high it is cause for alarm.

http://www.carwashguys.com/tour_berkeley.shtml .

Most of the Copper Mines in the United States have been closed. Such as the famous old mine in AZ, Bisbee Mine. Arizona at one time had many copper mines. In 1972 Congress passes the Federal Clean Water Act to protect our fresh water supplies from mining waste. Years later many had become Super Fund Sites. Today our modern technologies can prevent pollution and still allow for mining, but since most have been closed and other nations are now in the Global Market selling these materials and there is little chance for the United States which was once a power house in mining to get back into the game.

Lance Winslow - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs/

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The Federal Trade Commission Fiscal Year 2007 Congressional Budget Justification is Flawed Indeed

Thursday, February 28th, 2008

In review of the United States Department of Justice Federal Trade Commission Fiscal Year 2007 Congressional Budget Justification Report; personally I am appalled at the attempt to pass off their 2006 Fiscal Year performance as satisfactory. In fact I believe (this entire article is opinion) that their performance stunk and was so utterly and completely piss poor that the entire staff ought to be thrown out the door.

In fact did you know that the American Taxpayer pays these knuckleheads 3 times as much in pensions than the cost in the private sector? That is the real screw ups of the agency, as the good ones go work in the private sector ASAP after making contacts thus un-leveling their own logo; The balance weight. Whose team are these people on any way. The good ones who might actually help the American Consumer leave for private practice defending shady businesses and the ones who suck stay on board and collect a pension we have to pay for? May I please ask how on Earth this protects the Consumer? It is a Fraud on The Consumer; FTC.

Each year the FTC reviews itself for Budget Justifcation and puts forth their own critique of their endeavors. Indeed this is hilarious, always trumping their credibility in the market place and then writing their own performance review? Who on Earth thought of that system? Do you have any less SPAM in you inbox? Do you still worry about identity theft, computer viruses and getting calls at dinnertime? Well, what do you think of the FTC now? Why should they write their own reviews when we all know that they suck? Consider this in 2006.

Lance Winslow

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Tax Planning 101

Wednesday, February 27th, 2008

You are paying too much income tax - and it’s nobody’s fault but your own! You do not have to wait for Congress to pass a tax cut bill. You can enact your own personal tax cut with careful tax planning.

Here is some tax planning basics:

* The difference between tax avoidance and tax evasion is $10,000 and five years in prison! Tax avoidance is the lawful and ethical use of accepted procedures to reduce your tax liability. Tax evasion is a willful misrepresentation or concealment of information. Despite growing public acceptance of cheating on tax returns, reckless tax evasion is a very dangerous matter. There are many legal ways to reduce your tax liability - too many to risk your future with tax fraud.

* There exist many situations where a taxpayer has a choice of accomplishing the same end by more than one method. The smart tax planner approaches each personal and business transaction with a view towards reducing taxes by analyzing how and when to conduct the transaction to get the most tax advantages.

* The first criteria for evaluating any transaction, strategy or technique should always be financial. Taxes are second.

Many, many years ago, when I was still an “apprentice” tax preparer, one of my mentor’s clients came in and proudly announced that his employer had offered to reimburse him for job-related mileage, but he turned it down because then he would not be able to deduct business travel on his Form 1040 (back then it was deductible in full “above-the-line” as an Adjustment to Income).

My mentor avoided the temptation to tell the client that he was a complete idiot, and attempted to explain, with great patience and tact, that taxes are only pennies on the dollar, and it is much “more better” for someone to give you $1.00 tax free than it is to be able to save 30 cents by claiming a tax deduction. Similarly, there is no benefit in spending $1.00 needlessly to save 30 cents in taxes. You have not saved 30 cents - you have lost 70 cents!

* Tax planning is a year-round process, and must incorporate short and long-term considerations. While handling a transaction in one way may produce a greater short-term tax savings, it may be more costly in the long run.

* The application of any tax planning technique or strategy is dependent on the special “facts and circumstances” of each particular situation. One man’s tax savings may result in another man’s overpayment. You must evaluate each technique or strategy considered in the context of our own individual situation.

copyright (c) 2006 by Robert D Flach LLC

Robert D Flach is a tax professional with 34 tax seasons of experience preparing 1040s for individuals in all walks of life. He writes and publishes the free monthly online newsletter STUFF AND SUCH (http://rdftaxpro.tripod.com/stuffandsuch) and several other websites, as well as several print newsletters and reports on tax planning and preparation. For more information on his websites go to http://rdftaxpro.tripod.com/websites

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