Sunday, October 23, 2016

Does Anybody See The Hypocrisy Here?

Eric Holder is coming to Boston College this week.   Check out the requirements to attend.  I am looking forward to attending.  

Thursday, October 20, 2016

State of BC Football

The perception of BC football across the country has never been worse.    See this quote from the Iowa State AD:

"Because we want to add more schools to this league that are going to be like Rutgers or Boston College in their conferences? Which have no fans coming to the games, and they're getting outscored 170 to whatever it was. In Boston College's case, haven't won a game in two to three years in their conference. That totally dilutes your value."

Here is the full transcript:

Time for some big changes.    The status quo is not acceptable.

Monday, October 17, 2016

Sunday, October 9, 2016

BC's Next Head Football Coach

2016-2017 Boston College Hockey

It will be interesting to watch this young team play this season.   The roster has 13 freshman and 7 sophomores. With many early departures to the NHL, there are no juniors on the roster.   Last night, this young team go their first win.  It looks like we have a goaltender in freshman Joe Woll who made 40 saves.  

Here is the recap:

Monday, October 3, 2016

Hillary's Taxes

Yesterday, I discussed Trump's use of a net operating loss carryforward to reduce current year taxable income.    Today, I see that Hillary Clinton utilizes a loss carryforward of her own - a capital loss carryforward.     Capital losses are only deductible against capital gains.    If a taxpayer has a net capital loss (after netting against capital gains) a deduction of $3,000 is allowed.   Any remaining capital losses are carried forward to offset capital gains in future years.

I have attached an excerpt of Hillary Clinton's 2015 tax return which shows a capital loss carryforward of $699,540.  After deducting the maximum of $3,000 (she had no capital gains in 2015), she will carryforward $696,540 to her 2016 tax year.

So although her carryforward is not nearly as significant as Donald Trump's she is following the tax laws that allow for such loss carryforwards.   

As discussed yesterday, the issue with Donald Trump is not a tax issue but one of his credibility as a businessman.  

Sunday, October 2, 2016

Trump's Taxes

Here is a link to Donald Trump's 1995 New York State tax return.  Notice that he reports a loss of over $900 million relating to business losses. 

A review of the return is interesting on many levels.   The Democrats are screaming that this proves that Trump has not paid any taxes in 20 years. However, it is perfectly legal to claim a business loss on your tax return. This loss could be carried forward for up to 20 years. Also, given the magnitude of this loss, I can guarantee you that the IRS audited the return for that year. So Hillary and her cronies have no basis to accuse Trump of cheating on his taxes.

The real issue is Trump's claim to be a world class businessman. If Trump is such a great businessman what is he doing losing close to $1 billion in a single year? If I was a Clinton adviser, discrediting his business success would be the message.

Lastly, Trump and his surrogates are making an issue of our complex tax code.  I agree that our tax laws need simplification and reform.   But the reporting of losses from legitimate businesses is not a complex issue. It is quite simple and straightforward.