Author Archives: Russ

Should All Tax Preparers be Regulated?

Posted on December 21, 2005 by Russ

Wait a second. Aren’t tax preparers regulated? Well, sort of. All tax preparers fall under the aegis of Circular 230. If your tax preparer is an Enrolled Agent (EA) (what I am), a Certified Public Accountant (CPA), or an attorney, … Continue reading →

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No Records, But A Big Heart (and a Wonderfully Written Decision)

Posted on December 15, 2005 by Russ

When the first lines of a Tax Court decision read, Tax records are the ancient Egyptians of the modern age–plagued not by boils, frogs, flies, and lice but by fire, flood, mold, and theft. The cursed tax records in this … Continue reading →

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A Gambling Association

Posted on December 14, 2005 by Russ

The Tax Court today looked at whether a heretofore charitable organization (a 501(c)(3)) that has a gaming operation can retain its’ charitable (501(c)(3)) status. This case gives an excellent example of some of the drawbacks of “charitable” gambling from a … Continue reading →

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Remember The Maine?

Posted on December 14, 2005 by Russ

Do you remember the Maine? For those of you who don’t remember history, the battleship USS Maine blew up in the harbor at Havana, Cuba. Even today, the cause of the explosion is still a mystery. But one thing is … Continue reading →

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More on Section 199

Posted on December 13, 2005 by Russ

Thanks to Joe Kristan of Roth Tax Updates, here is some more information on the Domestic Production Activities Deduction, aka the Deduction from Hell. The draft form is available online here. A much more technical introduction to the proposed regulations, … Continue reading →

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The Deduction From Hell (Corporate Taxes)

Posted on December 12, 2005 by Russ

Not many small businesses do their own tax returns. If they do, they’re likely to “enjoy” Form 8903, “Domestic Production Activities Deduction.” By the way, this form is not yet on the IRS’ website. The draft version of the form … Continue reading →

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One Down, Two (at least) To Go

Posted on December 7, 2005 by Russ

Yesterday John Campbell (R-Irvine) won the race to replace Christopher Cox as Congressman for the 48th Congressional District. Chris Cox is now the head of the SEC. As mentioned previously, voters in the same area of Orange County now face … Continue reading →

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If You Fail 3 Times…The Fourth Time Won’t be the Charm

Posted on December 6, 2005 by Russ

The joy of frivolity. Having fun at the expense of others (playing practical jokes, for example) can give yourself a good laugh. However, it is not a good idea to do it in Tax Court. As noted in Roth Tax … Continue reading →

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Where Paper Filing is Simpler than Electronic Filing

Posted on December 4, 2005 by Russ

Come late January or early February, you may have to file your 1099s with the IRS. If you are in California, you likely believe that filing with the IRS satisfies your California filing requirement. If you paper file, that’s true. … Continue reading →

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Another Election on Tuesday

Posted on December 4, 2005 by Russ

If you, like me, live in Orange County’s 48th Congressional District, don’t forget to vote this Tuesday for Chris Cox’s replacement. If you don’t know where your precinct will vote (and many polling places have been moved), you can find … Continue reading →

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