Author Archives: Russ

Nexus, My Nexus, Where Have You Been?

Posted on January 9, 2006 by Russ

There are two concepts that tax accountants have trouble explaining to clients: basis and nexus. And this leads to two recent items that have as their basis nexus. First, on December 31st, the New Mexico Supreme Court ruled that a … Continue reading →

Posted in New Mexico | 1 Comment

BOE Flood Relief

Posted on January 6, 2006 by Russ

For taxpayers in Northern California impacted by the recent storms, the Board of Equalization has extended deadlines for filing California sales tax and fees collected by the BOE by one month. Returns (and payments) originally due on January 31st are … Continue reading →

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A Brief Note on Business Information Returns/Filings

Posted on January 3, 2006 by Russ

Now that we’re in 2006, it’s time for me to go back to work. First on the agenda will be business information returns/filings, such as W-2s and 1099s. These forms must be distributed by January 31st, but do not have … Continue reading →

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The TaxProf Blog’s Top 2005 Tax Stories

Posted on January 3, 2006 by Russ

The TaxProf Blog published its top 10 for 2005. Their top ten includes the Kanter/Ballard Tax Court case, the telecommuter tax case, and the federal tax reform initiative. There are other items on the list, of course. I could quibble … Continue reading →

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The 2005 Tax Offender of the Year

Posted on December 31, 2005 by Russ

Boy, what a year. And what choices we have in naming our 2005 Offender of the Year. The nominees include, – Richard Hatch, who had over 300 million witnesses to winning $1 million on Survivor, but didn’t include the winnings … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment

The Last Days of ’05

Posted on December 31, 2005 by Russ

With just two days left in 2005, there are only a few things that you can do today or tomorrow that have tax impacts. You could have a baby. Or you could give to charity (if you use a credit … Continue reading →

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Hatch Facing January 10th Trial

Posted on December 28, 2005 by Russ

Richard Hatch, the Survivor winner who allegedly elected to stiff the IRS, faces a January 10th trial date in Providence, Rhode Island on ten counts of tax evasion, filing a false income tax return, wire fraud, bank fraud, and mail … Continue reading →

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The Grinch Is Alive and Well in Pennsylvania

Posted on December 27, 2005 by Russ

Pity those of you who own businesses in Pennsylvania. For your elected officials have no pity, and just days before Christmas put lumps of coal in your stockings. Pennsylvania Governor Ed Rendell (D) vetoed a package of business tax cuts … Continue reading →

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I’m Too Cynical: 2005 In Review

Posted on December 23, 2005 by Russ

…Or so I’ve been told. But as I continue to age (a phenomenon that I’ve been assured will continue) I have begun to wonder if Mark Twain was correct, when he said, “Suppose you were an idiot and suppose you … Continue reading →

Posted in IRS | 3 Comments

Business vs. Hobby

Posted on December 22, 2005 by Russ

One of the most vexing things for the layman is the difference between a hobby loss and a business loss. Because the US taxes all income earned worldwide, it makes no difference whether you earn money in a hobby or … Continue reading →

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