Monthly Archives: March 2012

Things Have Changed Just a Bit Since 1943

Posted on March 28, 2012 by Russ

Back in 1943, Walt Disney released this short for the war effort. Back in 1943, it was the income tax to sink the Axis. Just five years later, Rex Stout wrote, A man condemning the income tax because of the … Continue reading →

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Annual Blog Hiatus

Posted on March 26, 2012 by Russ

With just about three weeks left before Tax Day, it’s time for our annual blog hiatus. We’ve written our annual top ten Bozo Tax Tips (they’ll start appearing next week), but between now and April 17th our clients are paying … Continue reading →

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Last Mailbag Prior to Tax Day, With an Emphasis on Being Abroad

Posted on March 25, 2012 by Russ

We get more mail: I was thinking of taking a trip to Belize in mid-April to fish. My accountant told me that if I’m out of the country on April 17th, I get a two-month extension on my taxes and … Continue reading →

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Politics First, Solving Problems Second: Dems to Schedule Vote on “Buffet Rule” for April 15th

Posted on March 25, 2012 by Russ

Today on CBS’s Face the Nation, Senator Chuck Schumer (D-NY) said that Democrats will schedule a vote on the “Buffet Rule” for April 15th. The so-called Buffet rule would raise income tax rates on anyone making $1 million or more … Continue reading →

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On Wednesday the Rabbi Will Go to ClubFed

Posted on March 19, 2012 by Russ

I’ve reported on Spinka before. The Grand Rabbi of Spinka, Naftali Tzi Weisz, was jailed for two years for his part in a charitable donation (but not really charitable donation) tax fraud scheme. Apparently, there’s more to investigate. A Grand … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment

Another One Bites the Dust

Posted on March 19, 2012 by Russ

Yet another late night infomercial house has fallen into trouble. As Janet Novack on Forbes reported, “Owe The IRS? TaxMasters Bankruptcy Shows Why Not To Get Help From TV Pitchmen.” TaxMasters, like all of the late night infomercial firms, says … Continue reading →

Posted in IRS | Tagged | 2 Comments

What’s $146.3 Million Among Friends?

Posted on March 15, 2012 by Russ

I can answer that question! $146.3 million is the additional amount of tax collections that California projected but did not receive in February. What’s worse is that the shortfall in the fiscal year-to-date is $1.3 billion. I’ve been preparing plenty … Continue reading →

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I Was #254

Posted on March 14, 2012 by Russ

Investors Business Daily has an article today on the Sick Man of America: California: In 2011, more businesses (254) quit California than the year before (202), which was a high-water mark over 2009 (51). Last year, roughly five businesses left … Continue reading →

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When Buying a Business in Texas…

Posted on March 14, 2012 by Russ

…ask for the Certificate of No Tax Due from the Texas Comptroller of Public Accounts. Alan Sherman of the Texas State & Local Tax Law Blog explains why.

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Mailbag Update

Posted on March 13, 2012 by Russ

We get mail: I got married last June and my wife says we need to file as single because we weren’t married for the whole year. Can you set her straight? Your marital status on December 31st is your marital … Continue reading →

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