Author Archives: Russ

Who Runs California: The Legislature or the SEIU?

Posted on April 20, 2010 by Russ

If anyone wonders why California is in trouble, wonder no more. Here’s a clip from a recent legislative hearing: So should our legislators do what’s good for the people of California or what’s good for the SEIU? Well, we know … Continue reading →

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Aloha! Hawaii Repeals Gambling Loss Prohibition

Posted on April 16, 2010 by Russ

Last summer Hawaii enacted a tax, err, the elimination of the ability to take gambling losses as an itemized deduction. This made our fiftieth state even less of a good place for gamblers to reside. Today, Governor Linda Lingle signed … Continue reading →

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Bozo Tax Tip #1: Procrastinate!

Posted on April 16, 2010 by Russ

It’s April 16th. There was a deadline yesterday? Well, this post was supposed to appear yesterday morning, but apparently I clicked on the 16th rather than the 15th when I wrote it. What a difference a day makes. Yesterday, you … Continue reading →

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Bozo Tax Tip #2: Be Suspicious!

Posted on April 14, 2010 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. Our #1 Bozo Tax Tip … Continue reading →

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Bozo Tax Tip #3: Trustless Trusts

Posted on April 12, 2010 by Russ

Another repeat from last year, but just as apropros. Only last week I was offered the “Deal of a Lifetime” to invest in the guacamole fund. I’d rather eat my guacamole, thank you. Anyway: Just today someone sent me an … Continue reading →

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Property Tax Payments Due on Monday

Posted on April 11, 2010 by Russ

If you’re a Californian, it’s time to make your second half 2009-2010 Property Tax Payment. We received two extra days (April 10th fell on a weekend) but you do need to pay by April 12th. Your payment must be made … Continue reading →

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Bozo Tax Tip #4: Nevada Corporations

Posted on April 9, 2010 by Russ

A repeat for the third year follows, but it’s one again getting a lot of play due to business conditions here in California. While I’m focusing on California and Nevada, the principle applies to any pair of states. Nevada is … Continue reading →

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Bozo Tax Tip #5: Cash Isn’t Taxable

Posted on April 8, 2010 by Russ

Last week a new client came into my office for the preparation of his tax return. Everything went smoothly, and an hour or so later his returns were complete and filed, he had his copies of the returns, and the … Continue reading →

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Bozo Tax Tip #6: Just Don’t File

Posted on April 7, 2010 by Russ

We’re running some repeats, but there is some new Bozo material coming. It’s just that people keep trying the same things over and over again. It’s tough to avoid the tax system. There are currency transaction reports (cash transactions of … Continue reading →

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Bozo Tax Tip #7: 300 Million Witnesses Can’t Be Right

Posted on April 6, 2010 by Russ

I keep thinking that I’ll be able to drop this Bozo tax tip one year (well, it did fall to #7). Yet every time I think that’s going to happen Richard Hatch makes the news again. One tip I can … Continue reading →

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