Author Archives: Russ

A List You Don’t Want to Be On

Posted on April 23, 2007 by Russ

There are many ways to catch tax scofflaws. California is trying something new—publicizing the worst offenders. Will shame cause payments? The Board of Equalization collects sales and use tax in California. Under a law passed last year, both the BOE … Continue reading →

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A Tax That’s Typical California

Posted on April 22, 2007 by Russ

California’s legislature has plenty of warped ideas. Now there’s a piece of legislation that would tax big vehicles to subsidize small vehicles. Under the “Clean Car Discount” bill, big vehicles that emit lots of Carbon Dioxide would pay a tax … Continue reading →

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Back at Work…To See Some Fraud

Posted on April 22, 2007 by Russ

I’ve recovered from Tax Day, and am back at work. While I’ve been gone, there’s been a lot of fraud. That’s typical for this time of year, as the government loves letting people know that tax fraud is bad. Indeed, … Continue reading →

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Two Extra Days in the Northeast

Posted on April 17, 2007 by Russ

Because of the storm in the Northeast U.S., the IRS has, according to an email I just received, extended the due date for returns for impacted taxpayers only until April 19th. Taxpayers who are impacted and take advantage of the … Continue reading →

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Bozo Tax Tip #1: Only Foreign Income is Taxable

Posted on April 16, 2007 by Russ

This sounds ludicrous (and it is, of course), but some tax protesters came up with this argument. And a very famous actor apparently bought it. Wesley Snipes, star of Blade and Passenger 57, went to an accountant who believes this. … Continue reading →

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Bozo Tax Tip #2: 300 Million Witnesses Can’t be Right

Posted on April 15, 2007 by Russ

For a tax blogger, people like Richard Hatch are wonderful. Hatch, for those who don’t remember, was the winner of the first Survivor and won $1 million. About 300 million individuals worldwide saw Hatch take down the $1 million. Hatch … Continue reading →

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Things Could be Worse…

Posted on April 15, 2007 by Russ

It’s a parody (of course), but it reminds us what confiscatory tax rates are like…. Hat Tip: AllahPundit (via HotAir)

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Bozo Tax Tip #3: Nevada Corporations

Posted on April 14, 2007 by Russ

California is not a low-tax state. The corporate tax rate is 8.84% for C Corporations (1.5% for S Corporations); both must pay a minimum $800 tax each year. If I’m in my car for any appreciable length of time, I’ll … Continue reading →

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Bozo Tax Tip #4: Structure Your Transactions

Posted on April 14, 2007 by Russ

When I was in college, I was taught that there is a right way journal entries should be written and many wrong ways. There’s an appropriate structure to a journal entry, and you want to make sure you keep the … Continue reading →

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Bozo Tax Tip #5: Just Don’t File

Posted on April 12, 2007 by Russ

A few weeks ago, I had lunch with a friend who is a fellow tax preparer. He told me a story of “Abe.” This Abe definitely wasn’t like Honest Abe. He had gone fifteen years without filing a tax return. … Continue reading →

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