Author Archives: Russ

The Estate Tax

Posted on January 12, 2009 by Russ

The Wall Street Journal reported this morning that Democratic leaders in Congress expect to introduce legislation continuing the Estate Tax in 2010. Under current law the Estate Tax is scheduled to disappear in 2010 but reappear in 2011 at the … Continue reading →

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Selecting a Professional Tax Preparer

Posted on January 12, 2009 by Russ

We all know what assume means. “Do you remember the old episode of tv’s ODD COUPLE when Felix explains to Oscar what happens when you assume? We all must know by now that when you assume you make an ass … Continue reading →

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A Bad Week for Evaders

Posted on January 11, 2009 by Russ

Lots on the tax evasion front from the last few days. And we have two early entrants into the 2009 Tax Offender of the Year contest. Larry McClure is one of two owners of Morgan-McClure Motorsports. Morgan-McClure owns a NASCAR … Continue reading →

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GOP Lawsuit A Bit Early

Posted on January 11, 2009 by Russ

Republican legislators joined with the Howard Jarvis Taxpayers Association in a lawsuit attempting to stop the “user fee” tax increases. If you remember, Democrats tried a back door method of increasing taxes. Normally, a tax increase in California requires a … Continue reading →

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Three From the FTB and BOE

Posted on January 11, 2009 by Russ

Michelle Steele, a member of the Board of Equalization, in her newsletter reminded everyone that the BOE will be conducting Use Tax audits of small businesses. Use Tax is the equivalent of sales tax on purchases where sales tax is … Continue reading →

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The Great Money Pit

Posted on January 6, 2009 by Russ

Other than noting local elections I haven’t really written much on this blog about local politics. Irvine has a favorable business climate, and the city hasn’t had revenue problems. Unfortunately, I think change is on the horizon, and it’s not … Continue reading →

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Western Tax Service Rears Its Head…But in a Good Way

Posted on January 6, 2009 by Russ

Every so often I think that the saga of Western Tax Service has come to an end. Western, as you may remember, was the Anaheim-based tax preparation firm that thought that no deduction was too trivial to take for its … Continue reading →

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A Cow Tax?

Posted on January 6, 2009 by Russ

My mother wrote a book called Cindy Lou about a cow that gave chocolate milk. It’s now out of print but it’s a wonderful book for children. I will admit my bias. The book is set on a family farm. … Continue reading →

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It’s That Time of the Year

Posted on January 5, 2009 by Russ

I’ve sent out all of my Tax Organizers for the year. If you’re my client and have not received your Organizer let me know. You do not have to use the Organizer but it is a very useful tool for … Continue reading →

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The End of the Line for the Tulsa Nine

Posted on January 4, 2009 by Russ

Diana Joubert (aka Diana Brice) of Tulsa, Oklahoma had the not-so-bright idea that submitting phony tax returns would be a good way to make a living. She worked with eight others, including Samuel Willis (owner of Willis Tax & Financial … Continue reading →

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