Yearly Archives: 2015

IRS Increases De Minimis Expense Threshold to $2,500 from $500 for 2016 Onward

Posted on November 24, 2015 by Russ

The IRS today announced that the de minimis expense threshhold for small taxpayers (which is the vast majority of all taxpayers) to $2,500 from $500 for tax years 2016 onward. Note that this does not apply for 2015 returns filed … Continue reading →

Posted in IRS | Tagged | 1 Comment

The Turf Monster Striketh

Posted on November 20, 2015 by Russ

Every so often the turf monster trips a player in a football or baseball game. Here’s one example: This post deals with a very different kind of turf monster. Back in September I wrote about Southern California’s Metropolitan Water District … Continue reading →

Posted in California | 1 Comment

Update on the Future of Daily Fantasy Sports

Posted on November 19, 2015 by Russ

So far, I’ve been accurate on my predictions. Back in February 2014 I wrote, Unfortunately, many states look at just an element of chance to determine if something is gambling. And there’s no doubt that daily fantasy sports have such … Continue reading →

Posted in Gambling, Massachusetts, New York | Tagged | 2 Comments

Yo No Hablo Ni Leo Español

Posted on November 18, 2015 by Russ

Yes, Spanish is not one of my languages. Luckily for me, computer translators exist. Unluckily for one of my clients, he received an IRS notice in Spanish…when he doesn’t read or speak Spanish. This is more humorous than anything else … Continue reading →

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IRSAC Report Has Hits and Errors

Posted on November 18, 2015 by Russ

The Internal Revenue Service Advisory Council (IRSAC) issued its annual report today. I agree with some of the recommendations but strongly disagree with others. IRSAC laments IRS funding. While I agree it would be nice to have the IRS fully … Continue reading →

Posted in IRS | Tagged | 1 Comment

Yes, Two States Rank Lower than California

Posted on November 17, 2015 by Russ

It’s not all bad news in the Tax Foundation’s 2016 State Business Tax Climate Index for California. You could always be in New York or New Jersey. Still, it’s better to be elsewhere. Two excerpts from the article note why … Continue reading →

Posted in California, Nevada, New Jersey, New York | 1 Comment

Wrong Font Size Costs 30 Employees Their Jobs in Chico, California

Posted on November 17, 2015 by Russ

I had never heard of Woof & Poof. The company makes handcrafted baby products, but apparently not for long in their home of Chico, California. According to this news story, the company is stopping production. Why? The CEO, Roger Hart, … Continue reading →

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Don’t Go to Lawrence Siegel to Have Your Taxes Done

Posted on November 15, 2015 by Russ

There are good tax preparers, bad tax preparers, and then there’s Lawrence Seigel. Mr. Siegel, who resigned from the California bar in 1994 and lost his CPA license in 1997 after being convicted of tax evasion (among other crimes) also … Continue reading →

Posted in Tax Fraud | 1 Comment

Colorado Voters to Get the Chance to Add 10% Payroll Tax for Single-Payer Health Insurance

Posted on November 15, 2015 by Russ

Colorado voters will get the chance to add a 10% payroll tax next year to fund universal health insurance. The 10% payroll tax–which is on top of all other federal and state taxes–would be on employees pay. Self-employed individuals would … Continue reading →

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The Real Winners of the World Series of Poker (2015 Edition)

Posted on November 10, 2015 by Russ

Nine individuals came to Las Vegas over the last three days to compete for the championship at the World Series of Poker (WSOP). Who would be the lucky winner? And who really got to keep the money? Last year the … Continue reading →

Posted in Gambling | 8 Comments