Comments on: Income Taxes: Legally Avoid the Taxman With Municipal Bonds

By: Robert Johns

Robert Johns — Mon, 04 May 2009 17:48:27 +0000

The IRS has cracked down on this item as well.

Formerly, payors of muni bond interest did not need to report the amount paid to the IRS. This reporting loophole has been closeds, just as stock basis for capital gains reporting will also be reported to the IRS in 2010.

By: Philip T.

Philip T. — Mon, 04 May 2009 07:16:48 +0000

So you don’t pay the State income tax on the interest earned of the Municipal Bond (e.g. California MB) but you must still pay the Federal Income tax on it, is it right?

By: Bonds Blogg

Bonds Blogg — Sat, 02 May 2009 05:17:34 +0000

[...] How to Avoid Income Taxes [...]

By: subrashankar

subrashankar — Sat, 02 May 2009 03:45:32 +0000

Very interesting and honest to God sincere.One important data is have the munis failed,I mean got deferred on due dates or interest restructured to align with falling fed rates.some simple analysis will be comforting.The risk/ reward profile needs more elaboration when one thinks of 7% return and tax free at times like these

By: Gary Kelly

Gary Kelly — Sat, 02 May 2009 01:03:02 +0000

If I wanted to invest in muni’s or lousy mutual funds whos managers dont do much but buy stocks rated bbb or aaa, I wouldn’t be subscribing to stock newsletters,I’m looking for a higher return than 7%

By: H. Privett

H. Privett — Fri, 01 May 2009 21:42:49 +0000

Your artical was informative,”if”, you actually beleive that as an American Citizen, you are require to pay taxes commonly referred to as “Income Tax.” Have you actually read the “LAW” in the Tax Code that requires anyone to pay Inome Tax? If you ask thisquestion of any IRS Official, their answer will be the old standby, “The qoestion is frivilous.” Not one individual has ever seen or read the “LAW” requiring anyone to “PAY” income Tax. WHY? because there is no such law in the TAX CODE. ASK, FIND it! Its simply not there. If this is so why do so many people pay? Simple, when you sign a W4 you “volunteer” to pay. I challenge anyone to show me the chapter, article of law that requires an individual to pay tax. I would love to see this “LAW.” so show it to me! There are thousands who have challenged this “LAW” and won the arguement! It simply is not in the code!

By: Imm

Imm — Fri, 01 May 2009 16:12:39 +0000

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By: R Peterson

R Peterson — Fri, 01 May 2009 15:54:56 +0000

How does the alternative minimum tax impact municipal bond earnings?

By: Freedom Minded

Freedom Minded — Fri, 01 May 2009 14:34:04 +0000

The ONLY ones “skirting the law” is the government when they confiscate our FRN’s (Federal Reserve Note’s) without Constitutional authority! No matter what YOU may think and what the government may say, the 16th amendment did NOT give the government the right to institute a direct tax on the American people…

The Supreme Court ruled on several occasions that the 16th amendment “conferred no new taxes” on the American people… In other words, if they did not have the authority before and the 16th didn’t give it, they don’t have it today…

The ONLY reason the 16th was NOT struck down as unconstitutional was due to the fact it was “LIMITED” in its scope…

IF the 16th contradicted the Constitution by implementing a DIRECT UNAPPORTIONED TAX , it would have been struck down by the Supreme Court!

A Constitutional Amendment CANNOT contradict the Constitution!

WAKE UP AMERICA – Quit simply accepting things just because the government says it is so! Stand upon YOUR inalienable RIGHTS to keep what YOU EARN!!

By: Thomas Coleman

Thomas Coleman — Fri, 01 May 2009 14:32:43 +0000

2008 was the first year I had income from munis. When filing my 2008 tax return, I was surprised to learn that muni interest was included in “other income” when calculating how much of my Social Security benefit was taxable. Consequently, my “tax-free” muni interest DID increase my Federal tax.

Sneaky devils …