Author Archives: Russ

New York Governor Looks to Increase 88 Taxes and User Fees

Posted on December 16, 2008 by Russ

New York already already has the second worst tax climate in the country according to the Tax Foundation. Governor David Paterson today announced a budget that seeks to add or increase 88 taxes and user fees. User fees are just … Continue reading →

Posted in New York | Comments Off on New York Governor Looks to Increase 88 Taxes and User Fees

The CPA Added Phony Deductions. Who Owes the Tax?

Posted on December 16, 2008 by Russ

The Tax Court looked today at the case of an unlucky taxpayer who used a Bozo CPA. The Bozo CPA added phony deductions (completely unbeknownst to the taxpayer). The IRS found out and assessed the tax rightly owed and penalties. … Continue reading →

Posted in Tax Court, Tax Preparation | Tagged | 1 Comment

Strip Clubs and Sushi

Posted on December 14, 2008 by Russ

Lots of fraud this week, so we’ll start with a couple favorites of mine. First, from Inver Grove Heights, Minnesota comes the story of Lawrence Kladek. Mr. Kladek owns King of Diamonds Gentlemen’s Club. Mr. Kladek had an ATM installed … Continue reading →

Posted in Tax Fraud | 1 Comment

Like Sands Through an Hourglass…

Posted on December 14, 2008 by Russ

…So goes the budget fiasco in Sacramento. Nothing’s changed at all. Democrats don’t want to cut programs and Republicans don’t want to add new taxes. Governor Schwarzenegger now estimates the deficit at over $14 billion, and that the state could … Continue reading →

Posted in California | Comments Off on Like Sands Through an Hourglass…

Global Cooling, California Style

Posted on December 14, 2008 by Russ

My friends know that I’m a skeptic on global warming. I don’t think that there’s proof today that anthropogenic (man-cause) global warming is a factor in the higher temperatures of recent years. Additionally, temperatures have fallen the last couple years. … Continue reading →

Posted in California | Comments Off on Global Cooling, California Style

New York 4, Indians 3

Posted on December 14, 2008 by Russ

In New York state there’s been a festering battle between state government and Indian tribes regarding cigarette sales. There were several developments last week. Judge Kenneth Fisher of the state Supreme Court (equivalent to a district court in California) ruled … Continue reading →

Posted in New York | Comments Off on New York 4, Indians 3

2009 Required Distribution Relief

Posted on December 13, 2008 by Russ

Congress yesterday passed a law (and President Bush is expected to soon sign the law) which will give relief for Required Minimum Distributions (RMDs) in 2009. As Joe Kristan noted, this isn’t much relief. RMDs are required for tax deferred … Continue reading →

Posted in IRS, Legislation | Comments Off on 2009 Required Distribution Relief

China Goes Where No Man Has Gone Before

Posted on December 11, 2008 by Russ

Two years ago I wrote about the idea of taxing virtual transactions. As I mentioned then the IRS’ view on this is, “That’s so weird.” However, one country looked at this and decided that while it might be weird it’s … Continue reading →

Posted in Legislation | Tagged | Comments Off on China Goes Where No Man Has Gone Before

Rangel’s Troubles Worsen

Posted on December 9, 2008 by Russ

The tax troubles of Congressman Charles Rangel (D-NY), the chair of the House Ways and Means Committee (the committee that writes tax legislation), have worsened. The House Ethics Committee had already been looking into his property tax troubles; the committee … Continue reading →

Posted in Legislation | Comments Off on Rangel’s Troubles Worsen

Property Tax Payment Due on Wednesday

Posted on December 7, 2008 by Russ

If you’re a Californian who owns real estate, remember that your first property tax payment is due this Wednesday, December 10th. The payment can be made at your county’s tax collector office, by mail (US postmark deadline of Wednesday), or … Continue reading →

Posted in California | Comments Off on Property Tax Payment Due on Wednesday