Author Archives: Russ

Trust Attorney Showed No Trust

Posted on February 6, 2013 by Russ

Kenneth Hoesch was an attorney in Zeeland, Michigan. Mr. Hoesch specialized in trusts and estates. This is definitely an important specialty area; the correct application of trusts can increase the amount of money that flows to beneficiaries and decrease the … Continue reading →

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Will the Third Time be the Charm for Appeals?

Posted on February 5, 2013 by Russ

The IRS Office of Appeals describes its mission as, [T]o resolve tax controversies, without litigation, on a basis which is fair and impartial to both the Government and the taxpayer in a manner that will enhance voluntary compliance and public … Continue reading →

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How Government Stifles Entrepreneurship

Posted on February 4, 2013 by Russ

So you want to become a landlord in the District of Columbia. I saw an interesting piece on Slate that noted that a Washington, DC couple had to get three different sets of paperwork completed to rent out their condominium. … Continue reading →

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IRS Loses Again to Institute for Justice

Posted on February 2, 2013 by Russ

Two weeks ago, a court ruled that the IRS had no legal grounds to regulate unenrolled tax preparers. The IRS filed a motion seeking a stay of the court’s injunction against the IRS. Late yesterday, Judge James Boasberg (the same … Continue reading →

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California Hasn’t Conformed to 2013 Debt Forgiveness…Yet

Posted on January 30, 2013 by Russ

Mortgage debt forgiveness was part of the “Fiscal Cliff” bill that passed Congress on January 1st. If you sell your primary residence in a short sale (or your home is foreclosed), the cancelled debt (up to $400,000) is generally not … Continue reading →

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1099, W-2 Mailing Deadline Is Tomorrow

Posted on January 30, 2013 by Russ

Thursday, January 31st, is the deadline for employers and others to put most 1099s and all W-2s into the mail or otherwise deliver them to recipients. This is a postmark deadline. This means that it might still be a week … Continue reading →

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Would You Deliberately Mail a Check to the Wrong Address?

Posted on January 28, 2013 by Russ

Seriously, would you? Assume you owed a customer $1,000. The debt goes back over a year, and now you’re ready to pay. The customer notifies you that she’s moved, and provides you with her new correct address. How many of … Continue reading →

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Form 8863 Added to Returns that the IRS Won’t Accept Just Yet

Posted on January 28, 2013 by Russ

From multiple sources comes word that the IRS will not accept returns with Form 8863 (Education Credits) at this time. Any returns with this form will also be delayed until (probably) March mid-February. While this form is not on the … Continue reading →

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Cash and Carry Doesn’t Work for Strip Club Owner

Posted on January 27, 2013 by Russ

A running theme of this blog is that it doesn’t matter how you are paid; income from cash is just as taxable as checks or credit cards. But it’s so tempting when you receive cash; who will notice if a … Continue reading →

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What’s $62 Billion Among Friends?

Posted on January 27, 2013 by Russ

I used to live in California’s central valley. It’s prime agricultural land, with citrus, almonds, pistachios, stone fruits, grapes, and practically anything else that you can eat. The cities there aren’t big (Fresno is the largest), and poverty and unemployment … Continue reading →

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