Author Archives: Russ

What’s $146.3 Million Among Friends?

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

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…

…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

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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Corporate Tax Deadline is Thursday, March 15th

The first big tax filing deadline of the year is upon us: The deadline for calendar year corporations (both C Corporations and S Corporations) to file their tax returns is Thursday, March 15th. What if you have a corporation and … Continue reading

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Confidence…Make that Confidence Man

A former IRS employee decided to head to Thailand after bilking investors in a Ponzi scheme. That country wasn’t a great choice, as there is an extradition treaty to the US. Adding to his woes was his general disdain for … Continue reading

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I Hope You Like Florence, Colorado

Kevin Small has had a decidedly interesting career. He has had 30 arrests for all sorts of crimes (including violent crimes). While enjoying Pennsylvania’s state prisons, he decided to commit tax fraud from the IRS. He was “caught” after obtaining … Continue reading

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California Doesn’t Conform on Self-Employment Tax Deduction Change

Yet another California non-conformity issue has reared its head. Those of us who are self-employed must pay self-employment tax on their self-employment earnings. The self-employed get to deduct 50% of that on line 27 of Form 1040. In 2011 the … Continue reading

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Shockingly, the Nevada Resort Association Is Fighting a Tax Initiative on Nevada Resorts

Last Wednesday the Nevada Resort Association filed a lawsuit in Carson City to block a proposed initiative that would increase the highest tier of gambling taxes in Nevada from 6.75% to 9%. The Las Vegas Sun reported that the lawsuit … Continue reading

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BOE Updates Top 500 Sales & Use Tax Delinquents in California

A few years ago, the California Legislature passed a bill requiring the Board of Equalization (California’s sales tax agency) to publish a list of the top 500 deadbeats each quarter. That list has just been updated. On top of the … Continue reading

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