Monthly Archives: March 2006

Reiner Resigns; Baca Supports Vegas, Denver & Phoenix

Posted on March 31, 2006 by Russ

Rob Reiner resigned as head of the First-5 Commission on Wednesday, as more pressure mounts to do a thorough investigation. Indeed, as the Chronicle story notes, both Democrats and Republicans believe something’s fishy with how the Commission spent money raised … Continue reading →

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M Madness

Posted on March 31, 2006 by Russ

I live and work in beautiful Orange County, California. Several years ago the voters of this county passed a 0.5% sales tax increase to fund transportation issues (such as the widening of Interstate 5 through Orange County). That sales tax … Continue reading →

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CTEC: A Bit Behind The Times

Posted on March 30, 2006 by Russ

CTEC, the California Tax Education Council, released a press release reminding taxpayers of the automatic extension available (Form 4868). The press release noted that the extension, which is an extension of time to file, not pay, is for four months. … Continue reading →

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States Where Gambling Is a Bigger Gamble

Posted on March 28, 2006 by Russ

Let’s say you went to the casino last April, and were lucky, and won $1,000. Last August, you went to the casino, and you weren’t so lucky, and you lost $1,000. What are the tax implications? For federal taxes (IRS), … Continue reading →

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Breast Tax

Posted on March 26, 2006 by Russ

If you’re a plastic surgeon, and you use breast implants as part of your work, do you have to pay sales tax on the implants you use? Yes, in Alabama. The Alabama Department of Revenue recently took a doctor to … Continue reading →

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Vegas to CA: Humorous Ads Score

Posted on March 25, 2006 by Russ

I previously wrote about Las Vegas’ attempt to draw more businesses from California. A few days ago I saw one of the ads: A giant peanut crushed a Californian, akin to California’s huge tax burden crushing a business. One Los … Continue reading →

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I Wish the IRS Would Look At….

Posted on March 24, 2006 by Russ

Have you ever thought of an area where you’d like to see the IRS issue guidance? Now is your chance to send the IRS cogent tax items that need clarification. Today the IRS issued Notice 2006-36 requesting recommendations for the … Continue reading →

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“I Never Got It”

Posted on March 23, 2006 by Russ

Assume that you’re a conniving individual. The pesky IRS sends you a notice of non-payment. You decide to either (a) ignore it, or (b) move, but not give the IRS your new address. What will happen? Today, the Tax Court … Continue reading →

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Wide Right?

Posted on March 23, 2006 by Russ

Ray Wersching had an illustrious career in the NFL. After starting his career with the San Diego Chargers, he moved on to the San Francisco 49ers, and played in Super Bowls XVI and XIX. Wersching holds the career Super Bowl … Continue reading →

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Almost Impossible to Trace

Posted on March 22, 2006 by Russ

Don’t try this at home. Suppose you set up some offshore companies. You take investors’ money and buy gold coins (making the money harder to trace). Add a few shell companies, here and abroad, ignore those pesky IRS (and Treasury) … Continue reading →

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