Monthly Archives: April 2006

PayPal Users Better Watch Out

Posted on April 12, 2006 by Russ

The digital age has spawned numerous successful companies and industries. One industry that did not exist ten years ago is online auctions, such as those on eBay. A company that sprung up to facilitate payment transfers for eBay is PayPal. … Continue reading →

Posted in IRS | Tagged , | Comments Off on PayPal Users Better Watch Out

It’s Time To Vote (Again)

Posted on April 11, 2006 by Russ

Tuesday, April 11th is election day in Orange County. If you live in the 35th State Senatorial district, you will vote on the replacement for John Campbell. You can find your polling place here. Remember to vote!

Posted in California | Comments Off on It’s Time To Vote (Again)

A Scam a Day Keeps the Doctor Away

Posted on April 10, 2006 by Russ

One of my clients today asked me about reporting of offshore (foreign) bank accounts. I reminded him that if you have $10,000 or more at any time in a foreign bank account or accounts, they must be reported by checking … Continue reading →

Posted in Scams | Comments Off on A Scam a Day Keeps the Doctor Away

Nevada Ups the Ante

Posted on April 10, 2006 by Russ

As I perused this morning’s Orange County Register, I was surprised to see the Nevada Development Authority advertising in the Register. You can find the ad on page 7 of the business section. It reads: “California Business Profits After: Worker’s … Continue reading →

Posted in Canada, Nevada | Comments Off on Nevada Ups the Ante

One Week To T-Day

Posted on April 9, 2006 by Russ

Tax Day is Monday, April 17th…except for some municipal taxes in Ohio that are still due on April 15th. So, at this late date, what can you do to lower your taxes? 1. Make a contribution to an IRA, if … Continue reading →

Posted in IRS | Comments Off on One Week To T-Day

Pork

Posted on April 6, 2006 by Russ

A man condemning the income tax because of the annoyance it gives him or the expense it puts him to is merely a dog baring its teeth, and he forfeits the privileges of civilized discourse. But it is permissible to … Continue reading →

Posted in Legislation | Comments Off on Pork

No Joy In Toyland

Posted on April 6, 2006 by Russ

Toys “R” Us operates in California and, of course, pays California taxes. California uses a three-part allocation formula based on unitary taxation to determine how much a corporation operating in multiple states must pay. Toys “R” Us came to the … Continue reading →

Posted in California | Comments Off on No Joy In Toyland

Being In Jail Is a Good Excuse

Posted on April 5, 2006 by Russ

The IRS wants to place a levy or a lien against you. The IRS says they mailed the notice, but it ended up at the wrong prison (you were in Attica, but the letter was sent to Gowanda; both are … Continue reading →

Posted in Tax Court | Comments Off on Being In Jail Is a Good Excuse

Swearing at the Court Isn’t a Great Idea

Posted on April 5, 2006 by Russ

The IRS puts two liens against you. You fight the case, filing a lawsuit against the Commissioner of the IRS, claiming $4.5 million in damages for slander of title, inconvenience, aggravation, and generally annoying behavior. But you lose in District … Continue reading →

Posted in IRS | Comments Off on Swearing at the Court Isn’t a Great Idea

You Get Your Money’s Worth

Posted on April 5, 2006 by Russ

The Government Accountability Office (formerly known as the General Accounting Office) (GAO) released a study yesterday titled, “Paid Tax Return Preparers: In a Limited Study, Chain Preparers Made Serious Errors.” The study was also mentioned in today’s Wall Street Journal … Continue reading →

Posted in Tax Preparation | Comments Off on You Get Your Money’s Worth