Author Archives: Russ

Hug Your Tax Professional, or The Upcoming Horrible, Miserable, Rotten, and Delayed Tax Season

Posted on December 12, 2018 by Russ

A question I’ve been asked many times this month: When will the 2019 Tax Season (for filing 2018 tax returns) open? The answer I’ve given is, “I don’t know.” Normally by now the IRS has released the date. As of … Continue reading →

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Nominations Due for Tax Offender of the Year

Posted on December 12, 2018 by Russ

In a little less than a month it will be time to reveal this year’s winner of the prestigious “Tax Offender of the Year” award. Remember, To be considered for the Tax Offender of the Year award, the individual (or … Continue reading →

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IRS (and All Federal Agencies) Closed Tomorrow, December 5th

Posted on December 4, 2018 by Russ

The Internal Revenue Service and all federal agencies will be closed tomorrow, Wednesday, December 5th, for the national day of mourning for President George H.W. Bush. The IRS also announced today that they have granted taxpayers an extra day, until … Continue reading →

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Swart Broadens

Posted on November 29, 2018 by Russ

California’s Franchise Tax Board believes that any business with even a remote tie to California should pay California tax. Let’s say you own a 0.21% interest in Acme LLC. Acme invests in something in California. You have no authority to … Continue reading →

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Bobble Away

Posted on November 27, 2018 by Russ

Are bobbleheads promotional items that are subject to Use Tax? The Cincinnati Reds fought the Ohio Department of Taxation’s ruling that bobbleheads were subject to Use Tax all the way to the Ohio Supreme Court. In this case, we are … Continue reading →

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Nothing for Something

Posted on November 21, 2018 by Russ

Have I got a deal for you! (It is, after all, the Holiday Season where we’re all looking for deals, right?) I can take your assets and hide them from anyone and everyone! Simply form one of my special Nevada … Continue reading →

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Gambling With an Edge Podcast

Posted on November 13, 2018 by Russ

I appear on this week’s episode of Gambling With an Edge. We discuss the new tax law, and tax topics of interest to gamblers, including how the new higher standard deduction will negatively impact gamblers.

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This Name Looks Vaguely Familiar

Posted on November 1, 2018 by Russ

I’m a tax nerd. I read Tax Court decisions. Today, one caught my eye: W.T. Snipes v. Commissioner. This name looks vaguely familiar. Yes, it’s the Wesley Snipes. Mr. Snipes, for those who don’t remember, visited ClubFed for failing to … Continue reading →

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Here We Go Again…

Posted on October 30, 2018 by Russ

A few years ago I penned a post titled “Taxes and Daily Fantasy Sports: The Duck Test.” To remind everyone, If it looks like a duck, walks like a duck and quacks like a duck, then it just may be … Continue reading →

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Haste Makes Waste

Posted on October 22, 2018 by Russ

Or so the cliche goes. And for the IRS, it certainly does. A client filed his tax return on October 2nd. He had a balance due (he had made an extension payment, but he still owed some tax). He paid … Continue reading →

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