Author Archives: Russ

To Live and Tax in Los Angeles

Posted on July 12, 2009 by Russ

Many cities (and a few states) in the United States have business and professions taxes. The tax rate usually depends on what occupation you’re in. The taxes can be low, or high. I used to run West Coast operations for … Continue reading →

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Restating the Obvious

Posted on July 9, 2009 by Russ

I’ve been saying for some time that California has a bad business climate. The current budget battle is only making things worse. I’m not the only one whose come to this conclusion. The California Manufacturing and Technology Association (via The … Continue reading →

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Surprise, Suprise: Other States Looking to Take Businesses from California

Posted on July 9, 2009 by Russ

In what is anything but a surprise, other states are looking to grab businesses located in the Bronze Golden State. This story from the Sacramento Bee highlights activities of development agencies in Nevada and Colorado. Given the current economic difficulties, … Continue reading →

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When the Going Gets Tough, the Speaker Runs Away

Posted on July 7, 2009 by Russ

You’re the Speaker of the California Assembly. The state faces a $24 billion deficit, and is broke. The state has had to issue registered warrants (IOUs). The political leadership—the governor, the majority and minority leaders of the state senate, the … Continue reading →

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Red, White, and Blue Fraud for the Fourth

Posted on July 5, 2009 by Russ

I enjoyed the local fireworks show last night. The individuals mentioned below are involved in their own legal fireworks relating to tax evasion. First, if you really want to get into tax trouble, simply don’t remit your trust fund taxes … Continue reading →

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Cap and Tax

Posted on July 5, 2009 by Russ

Did you know that Congress is considering passing a tax increase? You hadn’t heard about that, right? Well, it’s not called a tax increase but it definitely is. This misguided legislation is called The American Clean Energy and Security Act … Continue reading →

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New Hampshire Gambling Tax Now Law

Posted on July 2, 2009 by Russ

New Hampshire’s budget was signed into law earlier this week, and it gives gamblers a reason to frown. Included in the budget is a 10% tax on gambling winnings. This article on the tax states, As written, he [Rick Newman, … Continue reading →

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Schwarzenegger Vetoes Unconstitutional Budget

Posted on July 1, 2009 by Russ

The Flash Report is stating that Governor Schwarzenegger this morning vetoed the unconstitutional tax increases passed by the Democrats two days ago. The Governator had vowed to veto any tax increases, stating that California must live within its means. Perhaps … Continue reading →

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Russ Enters a Debate

Posted on June 30, 2009 by Russ

Two tax bloggers who I respect, Robert Flach (The Wandering Tax Pro) and Peter Pappas (The Tax Lawyer’s Blog) have been debating Peter’s 5 Slam Dunk IRS Audit Red Flags. Robert responded, Peter replied, and Robert made his rebuttal. All … Continue reading →

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IRS Gives More Time for FBAR for Some

Posted on June 30, 2009 by Russ

The reporting of Foreign Bank and Financial Accounts—the FBAR reporting on Form TD F 90-22.1—is impacting more individuals than in the past. More people have foreign financial accounts, and online gambling accounts are now considered foreign financial accounts. As Joe … Continue reading →

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