Author Archives: Russ

What Hath Proposition 13 Wrought?

Proposition 13, the initiative that limited property tax increases, is blamed by liberals as one of the root causes of California’s current budget problems. It’s not. The San Diego Union ran an editorial detailing what has happened to property tax … Continue reading

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A New York Doctor/Gambler Hits Three Lemons

The TaxProf Blog alerted me to an interesting Tax Court case decided earlier this week. Once again the Court looked at whether or not an individual can be a professional gambler when that individual specializes in video poker. In video … Continue reading

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Where did the “Prima Donna” Dock?

If you’ve ever driven from Southern California to Las Vegas, the first exit on Interstate-15 when you cross into Nevada is for Primm, site of three casinos. These casinos used to be owned by the Primm family but were sold … Continue reading

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Out Like a Lamb

One of the surest methods I know to get the IRS upset with you is to withhold payroll taxes and not remit them. Payroll taxes are called trust fund taxes; I’ve yet to know of a time when the IRS … Continue reading

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Hatch Appeals to the Supreme Court

Richard Hatch has appealed his guilty verdict to the US Supreme Court. Hatch’s attorney told the Associated Press, “He’s extremely optimistic about his appeal…He still believes the system should work.” Hatch is appealing alleging that the judge improperly limited his … Continue reading

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Propositions 98 & 99

For Californians it’s again time to vote. This coming Tuesday it’s the June primary. Normally, that’s when citizens of the Golden State get to vote in the presidential primary…but not this year (the presidential primary was back in February). However, … Continue reading

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Shaolin Grand Master Arrested

Earlier this month I reported on Qin Xiping, the 49th (or 34th) Grand Master of the Shaolin Temple. Qin had been accused by the Tokyo Regional Taxation Bureau of hiding about 130 million yen. Qin at the time was rumored … Continue reading

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Emmigration Just Got More Costly

If you want to give up your US citizenship, prepare to pay the IRS. As the Wall Street Journal reported on Tuesday, Congress has modified how individuals who renounce their citizenship will pay taxes. If you have a net worth … Continue reading

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Why California Has a Budget Problem

Daniel Weintraub of the Sacramento Bee has an excellent article today on California’s budget problems, their cause, and why certain areas of the budget will likely have to be cut (and will benefit from increased funding). If you want to … Continue reading

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At SuperSeminar

Every year I attend the California Society of Enrolled Agents SuperSeminar. I’ll be here through the weekend, and posting will be very light.

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