Monthly Archives: December 2005

More on Section 199

Posted on December 13, 2005 by Russ

Thanks to Joe Kristan of Roth Tax Updates, here is some more information on the Domestic Production Activities Deduction, aka the Deduction from Hell. The draft form is available online here. A much more technical introduction to the proposed regulations, … Continue reading →

Posted in IRS | Tagged | Comments Off on More on Section 199

The Deduction From Hell (Corporate Taxes)

Posted on December 12, 2005 by Russ

Not many small businesses do their own tax returns. If they do, they’re likely to “enjoy” Form 8903, “Domestic Production Activities Deduction.” By the way, this form is not yet on the IRS’ website. The draft version of the form … Continue reading →

Posted in IRS | Tagged | 4 Comments

One Down, Two (at least) To Go

Posted on December 7, 2005 by Russ

Yesterday John Campbell (R-Irvine) won the race to replace Christopher Cox as Congressman for the 48th Congressional District. Chris Cox is now the head of the SEC. As mentioned previously, voters in the same area of Orange County now face … Continue reading →

Posted in California | Comments Off on One Down, Two (at least) To Go

If You Fail 3 Times…The Fourth Time Won’t be the Charm

Posted on December 6, 2005 by Russ

The joy of frivolity. Having fun at the expense of others (playing practical jokes, for example) can give yourself a good laugh. However, it is not a good idea to do it in Tax Court. As noted in Roth Tax … Continue reading →

Posted in Tax Court | Comments Off on If You Fail 3 Times…The Fourth Time Won’t be the Charm

Where Paper Filing is Simpler than Electronic Filing

Posted on December 4, 2005 by Russ

Come late January or early February, you may have to file your 1099s with the IRS. If you are in California, you likely believe that filing with the IRS satisfies your California filing requirement. If you paper file, that’s true. … Continue reading →

Posted in Tax Preparation | Tagged | Comments Off on Where Paper Filing is Simpler than Electronic Filing

Another Election on Tuesday

Posted on December 4, 2005 by Russ

If you, like me, live in Orange County’s 48th Congressional District, don’t forget to vote this Tuesday for Chris Cox’s replacement. If you don’t know where your precinct will vote (and many polling places have been moved), you can find … Continue reading →

Posted in California | Comments Off on Another Election on Tuesday

Money Machine Undone

Posted on December 4, 2005 by Russ

Wade Cook, author of books such as Wall Street Money Machine was indicted on eight counts of tax fraud, obstruction of justice and conspiracy. Cook, and his wife (who was also charged), created a phony tax exempt entity but allegedly … Continue reading →

Posted in Tax Fraud | Comments Off on Money Machine Undone