Monthly Archives: May 2006

The IRS Give Single Member S Corps a Lump of Coal

Posted on May 30, 2006 by Russ

The IRS announced today a “clarification” of the rules for self-employed health insurance deductions for S Corporations. This is bad news overall, and especially bad news for California S Corporations. The self-employed health insurance deduction allows sole proprietorships, partnerships, LLCs … Continue reading →

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US: In the Middle

Posted on May 29, 2006 by Russ

Forbes magazine recently presented its annual comparison of taxes in the US to the world. So where does the US rank? More or less, in the middle. Of course, that depends on what state you reside in. The comparison looked … Continue reading →

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The Spanish-American War Officially Ends!

Posted on May 25, 2006 by Russ

And you thought that the Treaty of Paris (signed on December 10, 1898) ended the Spanish-American War. No! It ended today, May 25, 2006, when the Department of the Treasury announced that they will no longer fight for enforcement of … Continue reading →

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Proposition 82: Be Scared. Be Very Scared.

Posted on May 24, 2006 by Russ

Proposition 82, the Mandatory Preschool/Tax Increase/Help Las Vegas, Phoenix, and Denver Initiative, still leads in the polls. However, the last statewide poll was released over a month ago. Unfortunately for all Californians, the primary election on June 6th is dominated … Continue reading →

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Fixing the Match: Italian Tax Evasion

Posted on May 22, 2006 by Russ

I’m not a soccer fan. But if you are, the World Cup begins in just a couple of weeks. One of the favorites (based on what I’ve read) is Italy. But a scandal is clouding the picture. International football (soccer, … Continue reading →

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Tax Increase Prevention and Reconciliation Act of 2005

Posted on May 22, 2006 by Russ

That’s not a typo in the subject of this post. The tax bill that was signed last week by President Bush is titled “The Tax Increase Prevention and Reconciliation Act of 2005.” Apparently Congress didn’t look at a calendar…. Here … Continue reading →

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Fuel at SFO, Sales Tax in Oakland

Posted on May 21, 2006 by Russ

California’s sales tax rules, enforced by the Board of Equalization are far too complicated. Then throw in political shenanigans and you get…a lawsuit. San Francisco International Airport is located just south of the City by the Bay in San Mateo … Continue reading →

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Crime Blog

Posted on May 21, 2006 by Russ

There was lots of activity this week among scofflaws and other tax cheats. First, the operators of a Middle-Eastern restaurant have been accused of skimming $16 million in cash from La Shish restaurants and sending the money to Lebanon. One … Continue reading →

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Slots a Business, Says Minnesota Supreme Court

Posted on May 18, 2006 by Russ

The always vexing question of whether or not a gambler is a professional or an amateur was looked at this week by the Minnesota Supreme Court. In Busch v. Commissioner of Revenue (A05-656), Estelle Busch fought the Minnesota Department of … Continue reading →

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Creating Your Own Church Might Not Work

Posted on May 18, 2006 by Russ

Churches don’t generally pay income tax. They’re non profits in the true sense of the word. So why not create your own church? Take your salary, send it directly to the church (say, the Church of Russ), name yourself minister, … Continue reading →

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