Author Archives: Russ

Comment Policy

Posted on November 15, 2009 by Russ

Since the move to WordPress, the number of comments submitted has ballooned. However, almost all of these comments have been spam. All comments are moderated. If you submit a spam comment, you won’t be able to comment. The only comments … Continue reading →

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The Other Winners at the World Series of Poker, Part 2

Posted on November 10, 2009 by Russ

There’s another part to the story of this year’s World Series of Poker main event winner: backing. And it has one tax agency smiling even more, while another will miss out on 50% of an unexpected bounty. This year’s main … Continue reading →

Posted in Gambling | Tagged | 1 Comment

The Other Winners at the World Series of Poker

Posted on November 10, 2009 by Russ

Nine individuals came to Las Vegas this past weekend to compete for the championship of the World Series of Poker. Who would be the lucky winner? And who really got to keep the money? This year’s World Series of Poker … Continue reading →

Posted in Gambling | Tagged | 1 Comment

Homebuyer’s Credit Extended; NOL Loss Changes

Posted on November 9, 2009 by Russ

The Senate passed an extension of the Homebuyer’s credit unanimously, and the House passed it nearly unanimously. So the credit (up to $8,000) has been extended on home purchases until April 30, 2010. There are some changes in the legislation. … Continue reading →

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Traveling Again

Posted on November 4, 2009 by Russ

I’ll be traveling over the next several days. Posting will be light until late next week.

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Why Gamblers Should Dislike PelosiCare

Posted on November 4, 2009 by Russ

Suppose you’re an amateur gambler. Say you’re a college student. You net $45,000 playing poker tournaments. When you determine your annual wins and losses you find that your gross winnings are $800,000 and your gross losses are $755,000. You take … Continue reading →

Posted in Gambling, Legislation | Tagged | 3 Comments

House Health Care Bill Adds Taxes for All and Work for Tax Preparers

Posted on November 1, 2009 by Russ

The 1990-page health care bill that the House will consider has numerous tax provisions. Americans for Tax Reform published a list of some of the changes: – Employer Mandate Excise Tax of 0 to 8% of wages (depends on size … Continue reading →

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Do Businesses Base Decisions on Taxes?

Posted on November 1, 2009 by Russ

The answer to this question should be obvious, but many liberals believe that taxes can be hiked, and hiked, and hiked some more, and businesses won’t do a thing but verbally complain. That’s wrong. Businesses will locate will locate their … Continue reading →

Posted in South Carolina | Tagged , | 1 Comment

Definitely not a Treat for California Wage Earners

Posted on October 30, 2009 by Russ

The latest gimmick of the legislature goes into effect on Monday, November 2nd for California wage earners. California income tax withholding has been increased by 10%. The goal of the increase is to have more money coming into state coffers. … Continue reading →

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Just Like the Last Time…

Posted on October 28, 2009 by Russ

When the first paragraph of a Tax Court decision ends, “Mr. Oropeza’s position is, in a word, “frivolous.” Just like we held it was the last time he was in Tax Court,” it’s likely the case is worth reading—if only … Continue reading →

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