Author Archives: Russ

It’s Time for Earmark Reform

Posted on November 16, 2007 by Russ

Pork has gotten ridiculous in Congress. My Congressman, John Campbell, is one of the few who has said he will not ask for any earmarks for his district. Meanwhile, David Obey (D-WI), the Chairman of the House Appropriations Committee, said … Continue reading →

Posted in Legislation | Comments Off on It’s Time for Earmark Reform

For The Birds

Posted on November 15, 2007 by Russ

One of the vexing matters for tax professionals are side businesses. If they’re profitable, it’s usually not an issue. It’s another Schedule C for the return. However, when they are unprofitable problems can arise if the IRS scrutinizes the return. … Continue reading →

Posted in IRS, Tax Court | Comments Off on For The Birds

Bonds Indicted for Perjury and Obstruction of Justice

Posted on November 15, 2007 by Russ

Barry Bonds was indicted this afternoon on charges of perjury and obstruction of justice. Bonds was not indicted on any tax charges. I’m sure this indictment will gets lots of play in the media, and on sports websites such as … Continue reading →

Posted in Tax Fraud | Tagged | Comments Off on Bonds Indicted for Perjury and Obstruction of Justice

Spitzer Abandons Internet Tax

Posted on November 15, 2007 by Russ

It hasn’t been a good year for Governor Eliot Spitzer (D-NY). First, he’s been accused of using state troopers to spy on political opponents. Next, he proposes to give illegal aliens drivers licenses—a measure that’s overwhelmingly not supported by New … Continue reading →

Posted in New York | Comments Off on Spitzer Abandons Internet Tax

New York Tries to Tax the Internet

Posted on November 14, 2007 by Russ

Governor Eliot Spitzer (D-NY) is leading the way. But it’s a taxing way. The New York Department of Taxation and Finance says that any company that has an affiliate program that has any affiliates in New York must charge sales … Continue reading →

Posted in New York | Comments Off on New York Tries to Tax the Internet

California Red Ink

Posted on November 14, 2007 by Russ

“A billion here, a billion there, and pretty soon you’re talking about real money.”—Senator Everett McKinley Dirksen And that’s the situation in the Bronze Golden State. The Legislative Analyst released her report, and the news is grim. California is looking … Continue reading →

Posted in California | Comments Off on California Red Ink

You Can’t Opt Out

Posted on November 12, 2007 by Russ

Many years ago I remember seeing a Peanuts cartoon where Snoopy wrote to the IRS, “Please remove me from your mailing list.” As much as you and I would like to not have to deal with the IRS, if you … Continue reading →

Posted in Tax Evasion | Comments Off on You Can’t Opt Out

Traveling

Posted on November 8, 2007 by Russ

I will be traveling over the next few days. Posts will be minimal to nonexistent until next Wednesday.

Posted in Taxable Talk | Comments Off on Traveling

Another “Fun” Tax Year Shaping Up

Posted on November 8, 2007 by Russ

November 10th is Saturday. That’s normally the day the IRS sends all of the forms and schedules to the printer. There’s a problem, though: Will Congress enact an AMT patch for 2007? The House is scheduled to vote on a … Continue reading →

Posted in Legislation | Comments Off on Another “Fun” Tax Year Shaping Up

Snipes Moves for a Change of Venue…Again

Posted on November 8, 2007 by Russ

Back in September, Wesley Snipes, accused of filing a false claim for an income tax refund, asked for a change of venue for his trial. He preferred Manhattan to Ocala, Florida. He asked for the change because of travel time … Continue reading →

Posted in New York | Tagged | Comments Off on Snipes Moves for a Change of Venue…Again