Author Archives: Russ

Tax Help for Gamblers

Posted on February 23, 2019 by Russ

Jean Scott, the proprietor of the website “Frugal Vegas” (she’s also known as the “Queen of Comps”) called me last year and asked if I would be willing to assist her with the fourth edition of her book, Tax Help … Continue reading →

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No, Manny Machado Can’t Avoid Paying California Tax by Being a Florida Resident

Posted on February 21, 2019 by Russ

Earlier this week Manny Machado reportedly signed a baseball free agent contract to play with the San Diego Padres. He’s being paid $300 million over ten years…but that’s before taxes. An article on a website called “12up” says that Mr. … Continue reading →

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Online Gambling and Offshore Cryptocurrency Exchange Mailing Addresses for 2019

Posted on February 5, 2019 by Russ

This list has been superceded by the 2020 list. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at … Continue reading →

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When You Move, Do the Little Things

Posted on February 2, 2019 by Russ

Something I tell my clients when they move is to do all the little things such as going to the DMV and getting a new driver’s license and re-registering your cars. Another thing that needs to be done is to … Continue reading →

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When 35 Equals 365

Posted on January 29, 2019 by Russ

Yet another entry in the “Math Is Hard” file, again from our friends at the Internal Revenue Service. From the Washington Post comes the news that it will take the IRS between 12 and 18 months to catch-up on the … Continue reading →

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Gilbert Hyatt Wins Again But…

Posted on January 17, 2019 by Russ

The California Office of Tax Appeals upheld the California Board of Equalization’s ruling that Gilbert Hyatt mostly doesn’t owe California income tax in 1991 or 1992. Yes, you’re reading that correctly: This is a case that is 27 years in … Continue reading →

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When 85% Equals 90%

Posted on January 16, 2019 by Russ

One of my favorite expressions from poker that translates into tax is, “Math is hard.” But how can 85% equal 90%? No, the two aren’t equivalent. However, this year they are equal in one aspect of taxes. The IRS announced … Continue reading →

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It’s Time to Generate Those 2018 1099s

Posted on January 15, 2019 by Russ

It’s time for businesses to send out their annual information returns. These are the Form 1099s that are sent to to vendors when required. Let’s look first at who does not have to receive 1099s: Corporations (except attorneys) Entities you … Continue reading →

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Fourth Quarter Estimated Tax Payments Due Today

Posted on January 15, 2019 by Russ

Today is January 15th. That means your fourth quarter estimated tax payments are due today. It’s a postmark deadline, so if you pay by mail, download Form 1040-ES, print voucher #4, enclose your check payable to “United States Treasury” (write … Continue reading →

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A Dutch Lament: Where oh Where Is PokerStars Located?

Posted on January 9, 2019 by Russ

In a few weeks I’ll be publishing my list of where online gambling sites are located. A question that arose in the Netherlands is in regards to the location of PokerStars, the largest online poker site. An excerpt from my … Continue reading →

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