Categories
- Alabama
- Alaska
- Arizona
- Arkansas
- BEA
- Books
- California
- Canada
- Colorado
- Connecticut
- Cryptocurrencies
- Delaware
- District of Columbia
- Entity Formation
- Estate Tax
- Federal Budgeting
- FINCEN
- Florida
- Gambling
- Georgia
- Gift Tax
- Hawaii
- Illinois
- Indiana
- Information Returns
- International
- Iowa
- IRS
- Irvine
- Kansas
- Katrina
- Kentucky
- Las Vegas
- Legislation
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Orange County
- Oregon
- Payroll
- Payroll Taxes
- Pennsylvania
- Pensions
- Property Taxes
- Recordkeeping
- Rhode Island
- S Corporation
- Sales Tax
- SBA
- Scams
- Self Employment Tax
- South Carolina
- South Dakota
- Supreme Court
- Tax Court
- Tax Evasion
- Tax Fraud
- Tax Gifts
- Tax Preparation
- Taxable Talk
- Tennessee
- Texas
- Uncategorized
- Utah
- Vermont
- Virginia
- Washington State
- West Virginia
- Wisconsin
- Wyoming
Contact
Archives
Tax Blogs
- Dinesen Tax Times
- Don't Mess with Taxes
- EideBailly Tax News & Views
- Federal Tax Crimes
- Kelly Phillips Erb (Taxgirl)
- MauledAgain
- Peter Reilly
- Phil Hodgen Tax Law Blog
- Procedurally Taxing
- Tax Analysts Blog
- Tax Policy Blog (Tax Foundation)
- TaxProf Blog
- TaxVox Blog
- The Tax Guru
- The Wandering Tax Pro
- Tony Nitti on Forbes
Political Blogs
Tax Agencies
- California Department of Taxes and Fee Administration
- California Employment Development Dept.
- California Franchise Tax Board
- City of Las Vegas Business Licenses
- Clark County Business Licenses
- Henderson Business Licenses
- IRS
- Nevada Department of Employment, Training and Rehabilitation
- Nevada Department of Taxation
- North Las Vegas Business Licenses
Memberships
Other Links
Meta
-
Note: All Content is Copyright © 2005 – 2026 by Clayton Financial and Tax LLC.
-
Author Archives: Russ
Bozo Tax Tip #7: Only Income Earned Outside the United States Is Taxable
A few days ago I was explaining to a client the basics of the US Tax Code: All income is taxable unless Congress exempts it; nothing is deducible unless Congress allows it. That’s the basics. My office is in Las … Continue reading
Posted in International
Tagged BozoTaxTips
Comments Off on Bozo Tax Tip #7: Only Income Earned Outside the United States Is Taxable
Bozo Tax Tip #8: Nevada Corporations (or LLCs)
As we continue with our Bozo Tax Tips–things you absolutely, positively shouldn’t do but somewhere someone will try anyway–it’s time for an old favorite. Given the business and regulatory climate in California, lots of businesses are trying to escape taxes … Continue reading
Posted in California, Nevada
Tagged BozoTaxTips
Comments Off on Bozo Tax Tip #8: Nevada Corporations (or LLCs)
Bozo Tax Tip #9: Move Without Moving!
Over ten years ago, we moved from Irvine, California to Las Vegas. The home in Irvine was sold, a home was purchased in Las Vegas, and the belongings went from the Golden State to the Silver State. Cars were re-registered, … Continue reading
Posted in California, New York
Tagged BozoTaxTips
Comments Off on Bozo Tax Tip #9: Move Without Moving!
Bozo Tax Tip #10: Email Your Social Security Number (or EIN)!
It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! This is a repeat for the ninth year in … Continue reading
Posted in Tax Preparation
Tagged BozoTaxTips
Comments Off on Bozo Tax Tip #10: Email Your Social Security Number (or EIN)!
The IRS Is Broken, Example #786
We received a letter for a client from the IRS on the 2016 tax year in yesterday’s mail: We made an error and sent you an interim letter for the tax period listed above. Please disregard the letter 2645C that … Continue reading
Posted in IRS
Comments Off on The IRS Is Broken, Example #786
Why Has Posting Been Light?
A friend asked me why I’ve posted so little this year. The answer is simple: the real world intruded. Family issues have definitely impacted my time, and the workload of my business has increased dramatically. My clients deserve me spending … Continue reading
Posted in Taxable Talk
Comments Off on Why Has Posting Been Light?
IRS: On Third Thought, Let’s Grant “Relief” That Isn’t
Yesterday, I wrote a post stating the IRS was giving relief on the new Schedules K-2 and K-3. I did that because I believed what the IRS wrote. The IRS stated: Coming relief from certain Schedule K-2 and K-3 reporting: … Continue reading
Posted in IRS
Tagged 2022.Tax.Season, Schedules K-2 & K-3
Comments Off on IRS: On Third Thought, Let’s Grant “Relief” That Isn’t
IRS: “You Know That New K-2/K-3 Requirement: Well, We Had Second Thoughts.”
UPDATE: Make sure you read the post of February 17, 2022 on this issue. Every so often the IRS actually listens to the tax professional community. Tax professionals were unanimous in stating that requiring a domestic partnership with no foreign … Continue reading
Posted in IRS
Tagged 2022.Tax.Season, Schedules K-2 & K-3
Comments Off on IRS: “You Know That New K-2/K-3 Requirement: Well, We Had Second Thoughts.”
That 6 Million Return Backlog? Oops, We Mad a Math Error: It’s Really 24 Million
Everyone makes math mistakes. When we last heard from IRS Commissioner Chuck Rettig, the backlog of unprocessed returns was down to about 6 million. Per the Washington Post, that was slightly off–well, a bit more than slightly. The true backlog … Continue reading
Posted in IRS
Tagged 2022.Tax.Season, TIGTA
Comments Off on That 6 Million Return Backlog? Oops, We Mad a Math Error: It’s Really 24 Million