Monthly Archives: July 2011

Vacation

Posted on July 28, 2011 by Russ

It’s time for my annual vacation. If something earth-shattering in the tax world happens while I’m relaxing, I’ll take time out to post on it. Otherwise, enjoy the fine bloggers listed in the blogroll on the right. I’ll be back … Continue reading →

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Speaking of California’s Use Tax…

Posted on July 28, 2011 by Russ

A couple posts ago, I reported on the Board of Equalization having a Use Tax Table available for next year’s filing season. An article in today’s Orange County Register reminded me how California regulations hurt small businesses and bring in … Continue reading →

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The FTB Would Like Some Help from California Tax Professionals

Posted on July 28, 2011 by Russ

If you’re a tax professional in California, the Franchise Tax Board is asking for some help to improve their website. We need tax professionals’ help to test webpages and online applications (such as MyFTB Account) and provide feedback to us. … Continue reading →

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BOE Approves Use Tax Table for Indviduals

Posted on July 28, 2011 by Russ

The Board of Equalization approved a tax table that individuals can use (if they wish) to report Use Tax for their 2011 tax returns (filed in 2012). Use Tax is owed by individuals and businesses when they buy products where … Continue reading →

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I Spilled my Coffee Thanks to Joe Kristan

Posted on July 26, 2011 by Russ

This morning, Joe Kristan posted about an Iowa couple who had a unique method of preparing tax returns. I made the mistake of reading the actual court decision while drinking my morning coffee: According to [the defendants], if you believe … Continue reading →

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Class Action Approved for Los Angeles Phone Tax Lawsuit

Posted on July 26, 2011 by Russ

The City of Los Angeles’ telephone tax used to be based on the Federal telephone excise tax. The federal tax, collection of which began to fund the Spanish-American War (Remember the Maine?), ended when almost every circuit Court of Appeal … Continue reading →

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Cash and Carry Didn’t Work

Posted on July 23, 2011 by Russ

There’s nothing wrong with paying employees in cash. Indeed, in some industries it’s the norm. However, you still must withhold payroll taxes and properly report the earnings. The owners of a Massachusetts temporary agency found that out this week. Michael … Continue reading →

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Foreign Money Service Businesses May Need to Register with FINCEN

Posted on July 23, 2011 by Russ

Consider a foreign company that takes in, via wire transfers or other bank transfers, money from Americans. This company is located in, say, Costa Rica. Under new regulations published this week in the Federal Register, that company must register with … Continue reading →

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Electronic Filing Now Available for FBAR

Posted on July 23, 2011 by Russ

The Financial Crimes Enforcement Network (FINCEN) announced this week that you can now file an FBAR (Form TD F 90-22.1) electronically. Electronic filing of an FBAR is different than electronic filing for a tax return. You must complete an application, … Continue reading →

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Liening the Wrong Way

Posted on July 19, 2011 by Russ

Liens are useful legal devices. They are rightly used when someone owes another party money, so that property or other collateral is attached. Of course, if there’s a right way there’s also a wrong way. Today, we’re going to look … Continue reading →

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