Author Archives: Russ

Let’s “Improve” California’s Business Climate by Raising Taxes

Posted on February 19, 2005 by Russ

That’s what syndicated columnist Thomas Elias suggests in today’s Pasadena Star-News. That’s not how Mr. Elias puts it; rather, he states that increasing property taxes on businesses is the “obvious solution” to California’s budget problems. It’s not. The obvious solution … Continue reading →

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If It Sounds Too Good to be True…

Posted on February 17, 2005 by Russ

…It usually is. The New York Times today has a story on tax shelters (free registration required). It’s good reading, and brings up the basic issues that you need to consider about any tax shelter: – Is there a purpose … Continue reading →

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Stupid Budgeting Trick

Posted on February 16, 2005 by Russ

This evening I attended continuing education (required for professional tax preparers) and heard about changes in California tax law. As I was reading the material, I thought there was a typographical error on one item: “Seventy-five percent of punitive damage … Continue reading →

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Tax by the Mile?

Posted on February 15, 2005 by Russ

Over the past few months, there have been stories (trial balloons?) on replacing the gasoline tax with a “per mile” road tax. As this story from CBS notes, Oregon is testing the idea. For a large number of reasons, this … Continue reading →

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We Get Noticed

Posted on February 13, 2005 by Russ

Thanks to Roth & Company’s Tax Notes for noticing this blog. I especially like the pictures from Newport Beach (taken before the rain of Friday & Saturday) and the snow in Des Moines. By the way, I heartily recommend their … Continue reading →

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California’s Tax Amnesty

Posted on February 13, 2005 by Russ

For those who didn’t file, or those that California thinks didn’t file, there is a tax amnesty underway. To accountants’ dismay, the filing period is concurrent with the tax season (February 1st – March 31st). An excellent article on the … Continue reading →

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HSAs: Will California Conform

Posted on February 13, 2005 by Russ

Health Savings Accounts (HSAs) are an excellent vehicle for saving money on health care and have tax advantages for your Federal tax returns. But California has yet to conform and, based on last year’s experience, probably won’t. According to this … Continue reading →

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Board of Minutes and Resolutions (Scam Alert)

Posted on February 13, 2005 by Russ

Having returned from four days in computer netherworld, I ventured to get the mail from my PO Box and found a letter from the “Board of Minutes and Resolutions, Compliance Division.” For just $175, this “Board” promises to do your … Continue reading →

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Farrago a la Evasion

Posted on February 9, 2005 by Russ

Our thanks to Roth & Company’s Tax Updates for this article to a Tax Court decision on a frivolous appeal, or, as the Tax Court put it: Petitioner filed a timely petition in which he sets out a farrago of … Continue reading →

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Flat Tax

Posted on February 9, 2005 by Russ

Does anyone believe our tax system is fair and easy to comprehend? I’m a professional tax preparer, and there are sections of the Tax Code that I don’t understand completely (when I run across such an issue, I get help). … Continue reading →

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