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“The relationship between the University and the Patrician, absolute ruler and nearly benevolent dictator of Ankh-Morpork, was a complex and subtle one.
The wizards held that, as servants of a higher truth, they were not subject to the mundane laws of the city.
The Patrician said that, indeed, this was the case, but they would bloody well pay their taxes like everyone else.
The wizards said that, as followers of the light of wisdom, they owed allegiance to no mortal man.
The Patrician said that this may well be true but they also owed a city tax of two hundred dollars per head per annum, payable quarterly.
The wizards said that the University stood on magical ground and was therefore exempt from taxation and anyway you couldn't put a tax on knowledge.
The Patrician said you could. It was two hundred dollars per capita; if per capita was a problem, decapita could be arranged.
The wizards said that the University had never paid taxes to the civil authority.
The Patrician said that he was not proposing to remain civil for long.
The wizards said, what about easy terms?
The Patrician said he was talking about easy terms. They wouldn't want to know about the hard terms.
The wizards said that there was a ruler back in , oh, it would be the Century of the Dragonfly, who had tried to tell the University what to do. The Patrician could come and have a look at him if he liked.
The Patrician said that he would. He truly would
In the end it was agreed that while the wizards of course paid no taxes, they would nevertheless make an entirely voluntary donation of, oh, let's say two hundred dollars per head, without prejudice, mutatis mutandis, no strings attached, to be used strictly for non-militaristic and environmentally-acceptable purposes.”
― Terry Pratchett, Reaper Man

“If a house of legislation is to be composed of men of one class, for the purpose of protecting a distinct interest, all the other interests should have the same. The inequality, as well as the burthen of taxation, arises from admitting it in one case, and not in all. Had there been a house of farmers, there had been no game laws; or a house of merchants and manufacturers. the taxes had neither been so unequal nor so excessive. It is from the power of taxation being in the hands of those who can throw so great a part of it from their own shoulders, that it has raged without a check.”
― Thomas Paine, Rights of Man

“When taxes are proposed, the country is amused by the plausible language of taxing luxuries. One thing is called a luxury at one time, and something else at another; but the real luxury does not consist in the article, but in the means of procuring it, and this is always kept out of sight.”
― Thomas Paine, Rights of Man

“I mean, if you accept the framework that says totalitarian command economies have the right to make these decisions, and if the wage levels and working conditions are fixed facts, then we have to make choices within those assumptions. Then you can make an argument that poor people here ought to lose their jobs to even poorer people somewhere else... because that increases the economic pie, and it's the usual story. Why make those assumptions? There are other ways of dealing with the problem. Take, for example rich people here. Take those like me who are in the top few percent of the income ladder. We could cut back our luxurious lifestyles, pay proper taxes, there are all sorts of things. I'm not even talking about Bill Gates, but people who are reasonably privileged. Instead of imposing the burden on poor people here and saying "well, you poor people have to give up your jobs because even poorer people need them over there," we could say "okay, we rich people will give up some small part of our ludicrous luxury and use it to raise living standards and working conditions elsewhere, and to let them have enough capital to develop their own economy, their own means." Then the issue will not arise. But it's much more convenient to say that poor people here ought to pay the burden under the framework of command economies¡ªtotalitarianism. But, if you think it through, it makes sense and almost every social issue you think about¡ªreal ones, live ones, ones right on the table¡ªhas these properties. We don't have to accept and shouldn't accept the framework of domination of thought and attitude that only allows certain choices to be made... and those choices almost invariably come down to how to put the burden on the poor. That's class warfare. Even by real nice people like us who think it's good to help poor workers, but within a framework of class warfare that maintains privilege and transfers the burden to the poor. It's a matter of raising consciousness among very decent people.”
― Noam Chomsky, Chomsky On Anarchism

“Corporations don¡¯t make profits. Corporations don¡¯t pay taxes. I have yet to meet a liberal that understands these concepts.”
― Joe DeShon

“This was a talk to an anarchist conference, and in my view the libertarian movements have been very shortsighted in pursuing doctrine in a rigid fashion without being concerned about the human consequences. So it's perfectly proper¡­ I mean, in my view, and that of a few others, the state is an illegitimate institution. But it does not follow from that that you should not support the state. Sometimes there is a more illegitimate institution which will take over if you do not support this illegitimate institution. So, if you're concerned with the people, let's be concrete, let's take the United States. There is a state sector that does awful things, but it also happens to do some good things. As a result of centuries of extensive popular struggle there is a minimal welfare system that provides support for poor mothers and children. That's under attack in an effort to minimize the state. Well, anarchists can't seem to understand that they are to support that. So they join with the ultra-right in saying "Yes, we've got to minimize the state," meaning put more power into the hands of private tyrannies which are completely unaccountable to the public and purely totalitarian.

It's kind of reminiscent of an old Communist Party slogan back in the early thirties "The worse, the better." So there was a period when the Communist Party was refusing to combat fascism on the theory that if you combat fascism, you join the social democrats and they are not good guys, so "the worse, the better." That was the slogan I remember from childhood. Well, they got the worse: Hitler. If you care about the question of whether seven-year-old children have food to eat, you'll support the state sector at this point, recognizing that in the long term it's illegitimate. I know that a lot of people find that hard to deal with and personally I'm under constant critique from the left for not being principled. Principle to them means opposing the state sector, even though opposing the state sector at this conjuncture means placing power into the hands of private totalitarian organizations who would be delighted to see children starve. I think we have to be able to keep those ideas in our heads if we want to think constructively about the problems of the future. In fact, protecting the state sector today is a step towards abolishing the state because it maintains a public arena in which people can participate, and organize, and affect policy, and so on, though in limited ways. If that's removed, we'd go back to a [...] dictatorship or say a private dictatorship, but that's hardly a step towards liberation.”
― Noam Chomsky, Chomsky On Anarchism

“What is taxation? Taxation is what you pay to live in a civilized society- what you pay to have democracy and opportunity.”
― George Lakoff, Don't Think of an Elephant! Know Your Values and Frame the Debate: The Essential Guide for Progressives

“To summarise, the design of Nordic tax systems has over time created a ¡®fiscal illusion¡¯, whereby the public is not aware of the taxes they are paying. One can reflect on whether it is really in line with democratic principles to raise taxes in a way such that citizens are unaware of them. Interestingly, few proponents of introducing a Nordic model of high taxes in other countries stress that such a move would require hiding the true cost of taxation from the public.”
― Nima Sanandaji, Scandinavian Unexceptionalism: Culture, Markets and the Failure of Third-Way Socialism

“Taxes fund wars, wars generate taxes; wars are engineered, taxes are imposed. More wars generate more taxes, more taxes fund more wars.

Lies & deceit spark the fear, fear feeds on the inherent bias & insecurities. More fear leads to more feed-fest which leads to war.

Repeat para-1.”
― Mamur Mustapha

“The idea of receiving a letter from the IRS is not a pleasant one for anyone. What makes it worse is the confusion, the fear, the assumptions and the thoughts of all the worst-case scenarios that can make you feel like you have a tidal wave of stress.”
― Jeffrey Schneider EA CTRS NTPIF, Now What? I Got a Tax Notice from the IRS. Help!: Defining and deconstructing the scary and confusing letters that land in your mailbox.

“Equality in happiness is, in the first place, impossible.”
― Wataru Watari, ¤ä¤Ï¤ê°³¤ÎÇà´º¥é¥Ö¥³¥á¤Ï¤Þ¤Á¤¬¤Ã¤Æ¤¤¤ë¡£4

“An online tax program is only as good as the information the person enters into it and the understanding of what is being asked by the program.”
― Jeffrey Schneider EA CTRS NTPIF, Now What? I Got a Tax Notice from the IRS. Help!: Defining and deconstructing the scary and confusing letters that land in your mailbox.

“Many people remember to include miles to their clients or vendors. However, what about those trips to the office supply store, bank, post office? These miles add up. Do not forget the miles!”
― Jeffrey a Schneider Ea Ctrs Ntpi Fellow, Now What? I Got a Tax Notice from the IRS. Help!: Defining and deconstructing the scary and confusing letters that land in your mailbox.

“While the Citizen can entertain aspirations for the society as a whole and take pride in its achievements, the Taxpayer, as presently imagined, simply does not want to pay taxes. The societal consequences of this aversion--failing infrastructure, for example--are to be preferred to any inroad on his or her momentary fiefdom.”
― Marilynne Robinson, What Are We Doing Here?

“If you receive a ¡®certified¡¯ message in a bottle with an audit notice, be sure to have the most complete records and do not forget those receipts before the IRS boards your vessel for inspection.”
― Jeffrey Schneider EA CTRS NTPIF, Now What? I Got a Tax Notice from the IRS. Help!: Defining and deconstructing the scary and confusing letters that land in your mailbox.

“It's funny how so many think a redistribution of wealth is fine when it benefits the rich and creeping communism when it benefits the working class.”
― Thor Benson

“Better to use taxes to help the poor than to make the rich richer.”
― Jeffrey G. Duarte

“I don't do charity, I pay taxes instead.”
― Girish Kohli

“Trump is what happens when a Presidential candidate isn¡¯t pushed hard enough to release his tax returns. If he did, all this corruption would have been exposed before the election.”
― Ed Krassenstein

“Smart Sexy Money is About Your Money

As an accomplished entrepreneur with a history that spans more than fourteen years, Annette Wise is constantly looking for ways to give back to her community. Using enterprising efforts, she qualified for $125,000 in startup funding to develop a specialized residential facility that allows developmentally disabled adults to live in the community after almost a lifetime of living in a state institution.
In doing so, she has provided steady employment in her community for the last thirteen years. After dedicating years to her residential facility, Annette began to see clearly the difficulty business owners face in planning for retirement successfully.

Searching high and low to find answers, she took control of financial uncertainty and in less than 2 years, she became a Full Life Agent, licensed Registered Representative, Investment Advisor Representative and Limited Principal.

Her focus is on building an extensive list of clients that depend on her for smart retirement guidance, thorough college planning, detailed business continuation, and business exit strategies.

Clients have come to rely on Annette for insight on tax advantaged savings and retirement options.

Annette¡¯s primary goal is to help her clients understand more than just concepts, but to easily understand how money works, the consequences of their decisions and how they work in conjunction with their desires and goal.

Ever the curious soul who is always up for a challenge, Annette is routinely resourceful at finding sensible means to a sometimes-challenging end. She believes in infinite possibilities as well as in sharing her knowledge with others. She is the go-to source for ¡°Smart Wealth Solutions.¡±

Among Annette¡¯s proudest accomplishments are her two wonderful sons, Michael III and Matthew. As a single mom, they have been her inspiration and joy. She is forever grateful to the greatest brothers in the world- Andrew and Anthony Wise, for assistance in grooming them into amazing young men.”
― Annette Wise

“Collateral Capacity or Net Worth?

If young Bill Gates had knocked on your door asking you to invest $10,000 in his new company, Microsoft, could you get your hands on the money? Collateral capacity is access to capital. Your net worth is irrelevant if you can¡¯t access any of the money. Collateral capacity is my favorite wealth concept. It¡¯s almost like having a Golden Goose! Collateral can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can repossess the collateral. For example, car loans are secured by cars, and mortgages are secured by homes. Your collateral capacity helps you to avoid or minimize unnecessary wealth transfers where possible, and accumulate an increasing pool of capital providing accessibility, control and uninterrupted compounding. It is the amount of money that you can access through collateralizing a loan against your money, allowing your money to continue earning interest and working for you. It¡¯s very important to understand that accessibility, control and uninterrupted compounding are the key components of collateral capacity. It¡¯s one thing to look good on paper, but when times get tough, assets that you can¡¯t touch or can¡¯t convert easily to cash, will do you little good.

Three things affect your collateral capacity:
¢Ù The first is contributions into savings and investment accounts that you can access. It would be wise to keep feeding your Golden Goose. Often the lure of higher return potential also brings with it lack of liquidity. Make sure you maintain a good balance between long-term accounts and accounts that provide immediate liquidity and access. ¢Ú Second is the growth on the money from interest earned on the money you have in your account. Some assets earn compound interest and grow every year. Others either appreciate or depreciate. Some accounts could be worth a great deal but you have to sell or close them to access the money. That would be like killing your Golden Goose. Having access to money to make it through downtimes is an important factor in sustaining long-term growth. ¢Û Third is the reduction of any liens you may have against these accounts. As you pay off liens against your collateral positions, your collateral capacity will increase allowing you to access more capital in the future. The goose never quit laying golden eggs ¨C uninterrupted compounding.

Years ago, shortly after starting my first business, I laughed at a banker that told me I needed at least $25,000 in my business account in order to borrow $10,000. My business owner friends thought that was ridiculously funny too. We didn¡¯t understand collateral capacity and quite a few other things about money.”
― Annette Wise

“Now there is an attempt to reverse the history, to go back to the happy days when the principles of economic rationalism briefly reigned, gravely demonstrating that people have no rights beyond what they can gain in the labor market. And since now the injunction to "go somewhere else" won't work, the choices are narrowed to the workhouse prison or starvation, as a matter of natural law, which reveals that any attempt to help the poor only harms them¡ªthe poor, that is; the rich are miraculously helped thereby, as when state power intervenes to bail our investors after the collapse of the highly-toured Mexican "economic miracle," or to save failing banks and industries, or to bar Japan from American markets to allow domestic corporations to reconstruct the steel, automotive, and electronics industry in the 1980s (amidst impressive rhetoric about free markets by the most protectionist administration in the postwar era and its acolytes). And far more; this is the merest icing on the cake. But the rest are subject to the iron principles of economic rationalism, now sometimes called "tough love" by those who allocate the benefits.”
― Noam Chomsky, Chomsky On Anarchism

“September was a busy time of year for accounants, and not particularly Al's favorite. All the corporations that had filed extensions in April had to have their taxes in by the middle of September, with the procrastinating individuals following close behind. Al's clients who hadn't been able to get their finances together in the spring were even less inclined to now, any more than they wanted to tuck in the loose ends of their carefree summer spending... In September, accountants were firmly planted in the role of curmudgeon, grown-up when everyone wanted only to remember the feeling of bare feet for as long as possible.”
― Erica Bauermeister, The Lost Art of Mixing

“Ah yes, the joys of free enterprise, which is never free of anything be it taxes, bills, or stress.”
― E.A. Bucchianeri, Vocation of a Gadfly

“Dreams are tax-free.”
― Faraaz Kazi, More Than Just Friends

“Retirement Lifestyle Planning

There are four (4) major financial questions that you must be able to answer in order to know if your current or future plan will work for you.

What rate of return do you have to earn on your savings and investment dollars to be able to retire at your current standard of living and have your money last through your life expectancy?

How much do you need to save on a monthly or annual basis to be able to retire at your current standard of living and your money last your life expectancy?

Doing what you are currently doing, how long will you have to work to be able to retire and live your current lifestyle till life expectancy?

If you don¡¯t do anything different than you are doing today, how much will you have to reduce your standard of livingat retirement for your money to last your life expectancy?

Motto for Retirement Lifestyle Planning

A solid financial plan is a powerful possession that offers a sense of peace and freedom. Our process allows us to determine appropriate strategies and help you understand how to achieve your goals and live your dreams.

Our process stresses informed financial decision making. We encourage you to review all decisions with your team of tax and legal professionals. For the record, we are not tax or legal professionals and this information is not intended as tax or legal advice. Now we¡¯d like to remind you that a well-executed financial plan requires diverse knowledge and utilizes some or all of the following strategies and services:

-Retirement Lifestyle Planning Making the most of your employer-sponsored retirement plans and IRAs. Determining how much you need to retire comfortably. Managing assets before and during retirement including Social Security analysis.

-Estate Planning Referring you to qualified Estate Attorneys to review your wills and trusts to help preserve your estate for your intended heirs by helping with beneficiary designations. Reducing exposure to estate taxes and probate costs. Coordinating with your tax and legal advisors.

-Tax Management Helping to reduce your current and future tax burden by considering multiple strategies for review by your tax professional.Also, referring you to qualified tax specialists if needed.

-Legacy Planning/Charitable Planning Creating a solid future for generations to come by ensuring that your legacy will live on through those you love or causes you care deeply about.

-Risk Management Reviewing existing insurance policies. Recommending policy changes when appropriate. Finding the best policy for your individual wants and needs.

-Investment Planning Determining your asset allocation needs. Helping you understand your risk tolerance. Recommending the appropriate investment vehicles to help you reach and exceed your goals.”
― Annette Wise

“Business Owner Planning

Business owners have additional and complex Retirement Planning needs.
Counting only on the sale of your business requires tremendous luck and success.

If business owners consider the business as simply one asset among many, then they should seriously consider additional assets such as:

-Executive Bonus Arrangements
-Nonqualified deferred compensation plans
-Qualified retirement plans
-General investment portfolio

Motto for Business Owner Planning

As I look back on thirteen years of entrepreneurship, I can see that the best and smartest thing to do is to have a plan with the end in mind and you in mind. The time still goes by and time is expensive. That sentence is really a whole book and you should or will understand sooner than later, hopefully.

That would have looked like business succession planning. Proper business succession planning requires sound preparation in order to have a smooth and equitable transition. Financial, tax and legal planning are all necessary for a success.”
― Annette Wise

“Your Personal Economic Model

One tool we use when discussing the best course of action to secure your financial future is the Personal Economic Model?. Just as a medical doctor would use an anatomical model to convey medical concepts, we use the following model to convey financial concepts.

This model offers a visual representation of the way money flows through your hands.

On the left, you will notice the Lifetime Capital Potential tank, which illustrates that the amount of money you will control during your lifetime is both large, as well as finite. Most people are shocked to see how much money can flow through their hands in their lifetime.

Once earned, your money flows directly to the Tax Filter where the state and federal governments take tax dollars owed from your paycheck. The after tax dollars are then directed to either your Current Lifestyle or your Future Lifestyle.

Your management of the Lifestyle Regulator determines where these dollars go. Regulating the cash flow between your current lifestyle desires and your future lifestyle requirements may be the most important financial decision you will ever make.

Here¡¯s why.

Each and every dollar that is allowed to flow through to your Current Lifestyle is consumed and gone forever.

The goal is to accumulate enough money in the Savings and Investment tanks so that when you retire, the dollars in those tanks can be used to pay for your future lifestyle requirements. Retirement planning seems hard for most people to do but it is not rocket science.

The best position, position A, would be to have enough in the tanks so that you can live in the future like you live today adjusted for inflation and have your money last at least to your life expectancy.

That¡¯s a win, but the icing on the cake would be to accomplish that with little to no impact on your present standard of living, and that is exactly what we strive to help our clients to do.

Working with us can help you with the following:

Optimize the balance between your Current and Future Lifestyles
Identify inefficiencies in your current personal economic model (where are you losing money)
Design, implement, and execute a plan to secure your financial future
Limit the impact on your Current Lifestyle dollars (maintain your current standard of living)”
― Annette Wise

“Zero Line

Spender, Saver, Wealth Creator
Your financial personality type determines your financial position in life. Let¡¯s say there is a zero financial line that represents a position where you owe nothing and have nothing. Perhaps you can remember those days getting started on your own.

So, let us assume you just graduated from college and you¡¯re one of the lucky few who graduated at the zero line, you owe nothing. Pretty amazing considering that in 2013, the debt on student loans exceeded all credit card debt owed in America. But fortunately, you made it out free and clear to the zero line.

You¡¯re a ¡°Spender¡± so you go to the showroom and pick one out. With your job and the car as collateral, you get a car loan and you drop below the zero line. You lifestyle gets more and more expensive and since you are a ¡®Spender¡± you probably take on credit card debt to help finance your lifestyle desires. You are constantly working your way back to becoming a zero, financially speaking.

Then, you get married and now there are two in debt working their way back to zero. Eventually, children come along, and the odds of being able to put away enough money to pay your debt and interest and live on the top side of the zero line are becoming virtually impossible. Unfortunately, many Americans live in this position with little or no chance of ever living debt free.

When something comes along that requires their savings, they must deplete their funds in order to avoid paying interest and then they must start saving again for their next expense. They are constantly returning to the zero line.

The money they have accumulated is compounding interest, giving them uninterrupted growth. Having access to capital allows them to negotiate more favorable loans by collateralizing against their accounts rather than depleting them. They make payments to the lending institution with dollars from their current cash flow, protecting the growth of the money they have saved and invested for their future. Saving and investing with uninterrupted compounding is an important wealth concept for moving further and further away from the zero line.”
― Annette Wise

“Tax-Deferred does not mean Tax-Free

It never ceases to amaze me when I meet with people who do not know that tax-deferred does not mean tax-free. You mean I have to pay taxes when I take this money!? This is not all mine!? These are common remarks I hear as we are looking at their most recent retirement account statement. Somehow this consideration was missed when they enrolled in the savings plan and each year when they postponed the tax when filing their tax return. I am not a tax professional but I can understand how an accountant or tax preparer wouldn¡¯t think to make sure the client understands that they are postponing taxes and the tax calculation during their working years.

I met an accountant that expressed how difficult it is when he gets the client that believed they were ready to leave work only to find out that because of taxes they are coming up a little or a lot short. This happened to one of my relatives that worked at least 30 years as an x-ray technician and then supervisor at a very large hospital. While working, they always had the nice houses, the nice cars, and a nice upper-middle class lifestyle, nothing fancy. After he retired and even though his wife still worked as a school principal, he had to take a sales clerk job at a nearby liquor store so that his family could maintain their lifestyle. I will never forget other relatives joking and laughing about him miscalculating his retirement. I¡¯m certain that his unsuccessful retirement and that of other relatives influenced my interest in retirement planning if for no one else but me.

With a limited amount of retirement income, most retirees would prefer to keep their dollars rather than give them to Uncle Sam. Even those with an unlimited source of funds don¡¯t want to pay more taxes than necessary. Fortunately, there are some ways to decrease your tax burden once you¡¯ve done the obvious work of ensuring you¡¯ve taken all the deductions and credits to which you¡¯re entitled when you file your taxes.”
― Annette Wise