Tax Guru-Ker$tetter Letter

Thursday, May 09, 2002

Taxing Possible Income

It's bad enough when our rulers confiscate a portion of money we actually earned. However, it's ludicrous when people are forced to pay real tax dollars currently on income they might receive several years down the road. This is already the case with the alternative minimum tax (AMT) on employee stock options. I have already described the situation where many people have tax bills costing much more than the stocks were even worth. That fight is still ongoing, and again I encourage anyone interested in helping remove this insane tax to join with ReformAMT.

In what is another step in the wrong direction from fairness and morality, IRS is now poised to charge the 15.3% Social Security & MediCare taxes on the so-called employee stock option income. This is ridiculous; but will happen if enough people don't let their rulers know that they don't like it. This is an election year, when feedback from us peons is a little more noteworthy to our masters.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 5/09/2002 09:57:00 PM Send this post: