Author Archives: Russ

Shades of Western Tax Service

Posted on March 7, 2006 by Russ

In Maryland, a certified accountant was arrested on tax fraud charges. Allegedly, he inflated deductions, and inflated his tax preparation charges. He apparently used some of the $300,000 his scheme raised to buy property. Story: Baltimore Sun

Posted in Tax Fraud | 1 Comment

Vote Early and Often, Redux

Posted on March 4, 2006 by Russ

For those of you (like me) who voted last December in the election to replace Chris Cox as Congressman, it’s just about time to vote on his replacement. John Campbell was the State Senator for the 35th District (Irvine and … Continue reading →

Posted in California | Comments Off on Vote Early and Often, Redux

State Senate Majority Leader Drops Support for Prop. 82

Posted on March 3, 2006 by Russ

According to the San Francisco Chronicle, State Senator Don Perata (D-Oakland) has dropped his support of Rob Reiner’s Proposition 82, the mandatory preschool/increase income tax/Help Arizona, Nevada, and Colorado Initiative, because it was too expensive. Perata noted that the estimated … Continue reading →

Posted in California | Tagged | Comments Off on State Senate Majority Leader Drops Support for Prop. 82

Spend the $4.50….

Posted on March 2, 2006 by Russ

When I send out a tax return to a client, and it has to be mailed to a tax agency, I always state, in my letter, “mail, using certified mail, return receipt requested….” Joe Kristan of Roth Tax Updates today … Continue reading →

Posted in IRS | Comments Off on Spend the $4.50….

Another Hobby Loss

Posted on March 1, 2006 by Russ

In a recent unpublished opinion, the Eighth Circuit looked at a hobby loss case, Montagne v. Commissioner. One of the points we continually make is to document, document, document. The Montagnes had a horse-breeding “business,” but the Tax Court ruled … Continue reading →

Posted in Tax Court | Comments Off on Another Hobby Loss

Professor Maule Disects Ready Return

Posted on March 1, 2006 by Russ

The Franchise Tax Board is in its second year of the “Ready Return Program.” Under this program, the FTB prepares returns for individuals who have very simple returns — just wage income, single, no dependents. But the program has been … Continue reading →

Posted in California | Comments Off on Professor Maule Disects Ready Return

Proposition 82

Posted on February 28, 2006 by Russ

Proposition 82 on the June 6th California Primary Election Ballot is titled, “Preschool Education. Tax On Incomes Over $400,000 for Individuals; $800,000 for Couples….” A better name for this misguided statute is the “Preschool Education Bureaucracy. Driving Jobs from California … Continue reading →

Posted in California | Tagged | Comments Off on Proposition 82

We’re Number 40!

Posted on February 27, 2006 by Russ

The Tax Foundation today released its business climate survey of the 50 states. For the record, here are the top ten states: Wyoming South Dakota Alaska Florida Nevada New Hampshire Texas Delaware Montana Oregon California ranks 40th, just missing out … Continue reading →

Posted in California | 13 Comments

Go Phish.

Posted on February 27, 2006 by Russ

One of my clients called me this morning and asked about an email he received, purportedly from the IRS. I told him that, in general, the IRS doesn’t send out emails. The email he received told him that he had … Continue reading →

Posted in IRS | 1 Comment

People Who Live In Glass Houses…

Posted on February 25, 2006 by Russ

Do you remember when Intuit and H&R Block sued each other? Well, H&R Block now has some egg on their face. H&R Block admitted that they made some miscalculations on their own tax returns. They were only off by $32 … Continue reading →

Posted in Tax Preparation | 1 Comment