Author Archives: Russ

You Could Always be in Michigan

Posted on October 22, 2009 by Russ

I do complain about California’s politics from time to time (that might be an understatement) but it could be worse. I could be in Michigan. Now, for my Michigan clients (and I have a few) I think that Michigan is … Continue reading →

Posted in Michigan | Tagged , | Comments Off on You Could Always be in Michigan

I Survived!

Posted on October 18, 2009 by Russ

There’s a show on Discovery called I Survived. The show features individuals who survive situations that could lead to death. Nothing like that for me (thankfully), but another tax season has come and gone. I can put 2008 to bed … Continue reading →

Posted in California, IRS, Taxable Talk | Tagged , , | Comments Off on I Survived!

Hatch Freed

Posted on October 18, 2009 by Russ

Richard Hatch, a tax blogger’s best friend, is out of ClubFed. Mr. Hatch, convicted of tax evasion when he didn’t report his $1 million winnings from Survivor was freed on Friday. He will be on probation for three years and … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Hatch Freed

How Not to Prepare Returns

Posted on October 18, 2009 by Russ

With the 2008 Tax Season finally having drawn to a close, here’s a primer on what not to do. Just claim business losses for all of your clients, even those without businesses. Your clients will be happy and you’ll get … Continue reading →

Posted in Tax Fraud | Tagged | Comments Off on How Not to Prepare Returns

Stranded at ClubFed

Posted on October 18, 2009 by Russ

When I last wrote about Todd Strand he had pleaded guilty to tax fraud and related charges. Mr. Strand had worked for Renaissance, the Tax People as National Marketing Director. Renaissance promoted a system that allowed you to deduct personal … Continue reading →

Posted in Tax Fraud | Tagged | Comments Off on Stranded at ClubFed

An Interesting Gambling Case

Posted on October 17, 2009 by Russ

Here’s the one post that didn’t make the move from the old host. Note that “today” (in the below post) means October 1st, not October 17th. The Tax Court looked at an interesting case today. A recreational gambler (playing slot … Continue reading →

Posted in Gambling | Comments Off on An Interesting Gambling Case

Can New York Regulate Me?

Posted on October 11, 2009 by Russ

I live and work in Orange County, California.  My license comes from the federal government (I’m an Enrolled Agent, regulated under Circular 230). Yet New York State has enacted a measure that if legal would force me to remit $100 … Continue reading →

Posted in New York, Taxable Talk | Comments Off on Can New York Regulate Me?

Senate Health Care Proposal Leads to 80% Marginal Tax Rate?

Posted on October 11, 2009 by Russ

It’s hard for me to imagine such a high marginal tax rate, but those kinds of rates were the norm from the 1930s into the 1960s.  Higher marginal tax rates extended the Great Depression.  But that doesn’t seem to matter … Continue reading →

Posted in Legislation | Comments Off on Senate Health Care Proposal Leads to 80% Marginal Tax Rate?

Just Some Drops in the Bucket, Or a Steady Leak?

Posted on October 11, 2009 by Russ

California is, once more, looking at a budget that’s underwater.  That should be no surprise to my readers, as I noted that the current budget had a probable deficit of somewhere between $5 and $10 billion.  This past week John … Continue reading →

Posted in California | Comments Off on Just Some Drops in the Bucket, Or a Steady Leak?

A List to Avoid

Posted on October 8, 2009 by Russ

What do Sinbad, Dionne Warwick, and 248 other individuals have in common? They’ve appeared on the Franchise Tax Board’s annual listing of the 250 worst California income tax scofflaws. To make the list, you needed to owe at least $217,909.17.  … Continue reading →

Posted in California | 1 Comment