Archive | May, 2013

Fiscal Cliff-Kansas Style

While Washington DC is focused on the IRS tax exempt scandal and Federal tax reform seems to be on hold, the Kansas legislature keeps trying to change the state’s tax structure. On Thursday (May 30th), the Kansas House voted down a proposal to reduce the state sales tax on groceries to 4.9% while everything else […]

Continue Reading

What to Do When Things are Nuts?

I have not been a fan of this rally, and I have been selling into it.  I do have a rule for equity clients — cash never goes above 20%.  I have been close to that recently, and after rebalancing some companies that have hit the top of the weighting band, I have bought those […]

Continue Reading

What You Don’t Save May Cost You.

I’ve said it over and over again; keep copies of your tax returns and the supporting documents. That means the state return too. It can save you both time and money. Here’s the situation. I was asked to help respond to a notice from the Kansas Department of Revenue but the clients didn’t have a […]

Continue Reading

Industry Ranks May 2013

My main industry model is illustrated in the graphic. Green industries are cold. Red industries are hot. If you like to play momentum, look at the red zone, and ask the question, “Where are trends under-discounted?” Price momentum tends to persist, but look for areas where it might be even better in the near term. […]

Continue Reading

RAL Fees in Court

Thanks to Tax Pro Today for the heads up on this. The California State Supreme Court denied an appeal made by Liberty Tax Service on a 2009 ruling. Actually, they refused to hear the case after the state appeals court upheld the original ruling. The judge in the original case said that Liberty had not […]

Continue Reading