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Author Archives: Russ
Slots a Business, Says Minnesota Supreme Court
The always vexing question of whether or not a gambler is a professional or an amateur was looked at this week by the Minnesota Supreme Court. In Busch v. Commissioner of Revenue (A05-656), Estelle Busch fought the Minnesota Department of … Continue reading
Creating Your Own Church Might Not Work
Churches don’t generally pay income tax. They’re non profits in the true sense of the word. So why not create your own church? Take your salary, send it directly to the church (say, the Church of Russ), name yourself minister, … Continue reading
Posted in Tax Evasion
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Survivor: Victorville Coming Soon
Last night I drove home from Las Vegas and the CSEA’s SuperSeminar (well worth it, as usual; I’ll have more on the seminars later). As you head out of the high desert from Barstow on Interstate 15, you pass a … Continue reading
Tax Seminar Time
For the next several days, I’ll be at the CSEA’s annual SuperSeminar; thus, updates will be infrequent at best. We’ll return next Wednesday or Thursday with more news and some information from what has in the past been an excellent … Continue reading
Posted in Taxable Talk
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Governator: Use Extra Cash As Rainy Day Fund
Perhaps the Governator reads Taxable Talk (though I doubt it). In any case, Governor Schwarzenegger will propose tomorrow to: Use $1.6 billion of the new revenues to retire debt; Use $1.6 billion for the reserve account; Use $2 billion to … Continue reading
Posted in California
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Psychic Tax Evader Allegedly Commits Violence the Old-Fashioned Way
You’d think that if you’re a psychic you’d be able to just will your way to violence—you wouldn’t have to throw any punches. Sadly, our tax evading psychic apparently threw plenty of punches at his wife. David Guardino of Cary, … Continue reading
Posted in Tax Evasion
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One Tax Bill Likely to Pass
Republican negotiators in Congress sent tax legislation out of conference committee. The highlights of this generally lackluster legislation: – AMT Relief extended, with a new higher exclusion of $62,550 for 2006; – 15% capital gains rate extended for two more … Continue reading
Posted in Legislation
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If You Fail Once, You Can Fail Again
Back in the 1996 tax year, Leonard Gittinger, an attorney, didn’t pay his taxes. He argued that wages weren’t income. If you’ve been reading this blog, you know that argument is a typical tax protester argument, and is baseless. The … Continue reading
Posted in Tax Evasion
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Alchemists Rejoice!
Today the Tax Court looked at a §1031 Exchange case. The question before the court was whether a partnership (Peabody) could exchange gold mines for coal mines. The problem: the coal mines were encumbered with supply contracts that sent the … Continue reading
Posted in Tax Court
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CA Gets Tax Windfall; Will the Money be Spent or Saved?
In April, Californians sent $11.3 billion in personal income tax payments to the state, $4 billion more than predicted in January, according to the Department of Finance. So, what should be done with this money? The California Constitution requires a … Continue reading
Posted in California
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