The first debate by President Barack Obama and Governor Mitt RMoney was disastrous. Obama wasn’t on his game, as he looked down a lot and didn’t speak eloquently like he normally would. RMoney seized the opportunity and won. So who is to blame? Jim Lehrer, the moderator.
RMoney stepped all over Lehrer and railroaded the event by taking control of the moderation process. I guess Lehrer must have been in shock when RMoney wanted to stop funding PBS. It was PBS that truly insulted the Republican Party when their god Ronald Reagan was in office, when Bill Moyer did a documentary called: Guns, Drugs and the CIA. More than just killing Big Bird, RMoney wants to silence the truth, and possibly stop the destruction of the RNC…but I digress. After the debate though, Obama came out swinging. Still, why did Obama seem hesitant? He didn’t want the right to use the race card and portray him as an angry black man?
Uh, the President is also white?
But let’s see what RMoney had to bring to the table. RMoney did not know that under the IRS rules, you can make a deduction on moving expenses.
Topic 455 – Moving Expenses
If you moved due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your reasonable moving expenses but not any expenses for meals. To qualify for the moving expense deduction, you must satisfy two tests. Under the first test, the “distance test”, your new workplace must be at least 50 miles farther from your old home than your old job location was from your old home. If you had no previous workplace, your new job location must be at least 50 miles from your old home.
The second test is the “time test”. If you are an employee, you must work full-time for at least 39 weeks during the first 12 months immediately following your arrival in the general area of your new job location. If you are self-employed, you must work full time for at least 39 weeks during the first 12 months and for a total of at least 78 weeks during the first 24 months immediately following your arrival in the general area of your new work location. There are exceptions to the time test in case of death, disability and involuntary separation, among other things.
If you are a member of the armed forces and your move was due to a military order and permanent change of station, you do not have to satisfy the “distance or time tests”.
Moving expenses are figured on Form 3903 (PDF), Moving Expenses, and deducted as an adjustment to income on Form 1040 (PDF). You cannot deduct any moving expenses covered by reimbursements from your employer that are excluded from income.
For more information on deductible and nondeductible moving expenses, please refer to Publication 521, Moving Expenses. Also refer to Publication 521 for information on moves to locations in and outside the United States.
I don’t own a business nor am I a CEO, but I’m sure RMoney took full advantage of his rights to disenfranchise the workers at Sensata Technology as he forced the U.S. workers to train Chinese Replacement workers to take their place. He has to. It is his fiduciary duty to make a profit.
Still, as RMoney promised at the debate: I have no plans to cut taxes that will add to the deficit, yet according to his website:
So which is it. Will he or will he NOT cut taxes? The only downside to President’s Obama’s debate was his reserved comments, while RMoney attacked both Lehrer and President Obama like the vulture (no offense to vultures) capitalist he is.
Want to make a difference? Go out, canvas, send President Obama a tweet, encourage him. Make sure before the next debate, you send your support. Tweet, send President Obama an email, Like him in Facebook and encourage him to fight! Oh and do not forget to do the same for Vice President Joe Biden. His debate with Paul Ryan is on Thursday, October 11, 2012, 9:00pm-10:30pm ET.
And vote too.