Author Archives: Russ

Gilbert Hyatt Sues FTB & BOE Over 20+ Year Wait

Posted on April 27, 2014 by Russ

There are delays and there are delays. Gilbert Hyatt has been waiting two years to find out how the Nevada Supreme Court would rule on the (California) Franchise Tax Board’s appeal of his $500 million award. A decision in that … Continue reading →

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The Tanning Tax: Alan Greenspan Gets It Right (Again)

Posted on April 27, 2014 by Russ

Alan Greenspan, the former chairman of the Federal Reserve, has the wonderful quote: Whatever you tax, you get less of. It’s something our Congresscritters might take to heart…but I doubt it. Today, let’s look at the tanning tax. This tax … Continue reading →

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It’s a Ten-Digit World (Especially in Las Vegas)

Posted on April 26, 2014 by Russ

This post has nothing to do about taxes, but everything to do with phone numbers in Las Vegas. Beginning one week from today, the 702 area code (which covers Clark County, Nevada–primarily the Las Vegas metropolitan area) will be “overlayed” … Continue reading →

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IRS Prematurely Asking for Money

Posted on April 22, 2014 by Russ

A few years ago, the IRS routinely sent notices to taxpayers who filed tax returns prior to April 15th but didn’t pay their taxes until April 15th. After complaints from taxpayers and tax professionals, the IRS supposedly stopped this practice. … Continue reading →

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If You Can’t Get the Refund, Why Not File Some Liens?

Posted on April 20, 2014 by Russ

The answer to this is, perhaps it’s against the law. And it is. Let me start at the beginning. Back in 2008, Francis Chandler filed his 2007 tax return. He claimed he had quite a bit of interest income and … Continue reading →

Posted in Tax Evasion | 1 Comment

While I Was Out…

Posted on April 20, 2014 by Russ

I’ve recovered from Tax Day, my sleep is caught up, and it appears Las Vegas has moved smoothly towards summer (it reached 89 today). There has been a little bit of tax news during the past month: Good News for … Continue reading →

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Bozo Tax Tip #1: The Eternal Hobby Loss

Posted on April 14, 2014 by Russ

The goal of must businesses is to make money. There aren’t many businesses that can lose on each sale and make it up in volume. In fact, I don’t know of any. But I digress…. So let’s take Sam and … Continue reading →

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Bozo Tax Tip #2: Hot Air

Posted on April 13, 2014 by Russ

Congress has decided to legislate through the Tax Code. There are hundreds of tax credits that now exist. These range from the Earned Income Credit, education credits, electric vehicle credits, and adoption credits. Some of these credits, such as the … Continue reading →

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Bozo Tax Tip #3: Be Suspicious!

Posted on April 10, 2014 by Russ

Another repeat, but one that is a continual issue with cash business. It may be “cash and carry,” but cash is taxable in all ways. And cash reporting (or lack thereof) can be a problem. Anyway, let’s be suspicious: Given … Continue reading →

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Bozo Tax Tip #4: Honey, You Don’t Exist!

Posted on April 9, 2014 by Russ

Ah, Spring is in the air. And with that come the inevitable wedding invitations. I had an invitation to a wedding on April 5th. No, I didn’t attend. With weddings comes changes in tax status. Your marital status on December … Continue reading →

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