Author Archives: Russ

Bozo Tax Tip #8: Publicize Your Tax Crimes on Social Media!

Posted on April 4, 2018 by Russ

Social media is really, really big these days. You can follow me on Twitter. I may even update my Facebook page one of these days. Of course, I’m not a tax criminal, and my posts hopefully add knowledge for others. … Continue reading →

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Bozo Tax Tip #9: Nevada Corporations

Posted on April 3, 2018 by Russ

As we continue with our Bozo Tax Tips–things you absolutely, positively shouldn’t do but somewhere someone will try anyway–it’s time for an old favorite. Given the business and regulatory climate in California, lots of businesses are trying to escape taxes … Continue reading →

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Bozo Tax Tip #10: Email Your Social Security Number

Posted on April 2, 2018 by Russ

It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! This is a repeat for the fifth year in … Continue reading →

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Annual Blog Hiatus

Posted on March 16, 2018 by Russ

With the heart of the 2018 Tax Season upon us, it’s time for my annual blog hiatus. My series of Bozo Tax Tips will appear in early April, and if something truly earth-shattering happens in tax, I’ll still be here. … Continue reading →

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S-Corp/Partnership/1042 Deadline Is Tomorrow

Posted on March 14, 2018 by Russ

Tomorrow is the deadline for calendar-year S-Corporations and partnerships to file their tax returns. In reality, most will file extensions. But let’s say you’re an S-Corp (or partnership) owner and you just realized there’s a deadline. What should you do? … Continue reading →

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The Price Tag on California’s Train to Nowhere Jumps Another 17%

Posted on March 9, 2018 by Russ

What is the cost to fly from Los Angeles to San Francisco? I decided to check Southwest Airlines for a date one month out (April 11th); the cost is $50 each way or $100 for the round trip. I think … Continue reading →

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IRS Interest Rates Rise for Second Quarter

Posted on March 7, 2018 by Russ

The IRS today announced the interest rates for the second quarter of 2018. The interest rates will be 5 percent for overpayments (4 percent in the case of a corporation), 2.5 percent for the portion of a corporate overpayment exceeding … Continue reading →

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SEC Reportedly Launches Cryptocurrency Probe on ICOs

Posted on February 28, 2018 by Russ

The Wall Street Journal is reporting (pay link) that the Securities and Exchange Commission (SEC) has issued “scores of subpoenas and information requests” regarding digital tokens (aka Initial Coin Offerings, or ICOs). That regulators are starting to look into this … Continue reading →

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Coinbase To Comply With IRS Summons

Posted on February 24, 2018 by Russ

Two of my clients received an email from Coinbase: Dear Mr. Smith, In December 2016, the Internal Revenue Service issued a summons demanding that Coinbase produce a wide range of records relating to approximately 500,000 Coinbase customers. Coinbase fought this … Continue reading →

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The Good, Bad, and Ugly of the Tax Extenders

Posted on February 22, 2018 by Russ

As write this it’s February 21st. About ten days ago Congress, in its unending wisdom, decided to extend certain “Tax Extenders” that they had let expire at the end of 2017. Yes, the undead have risen again! As soon as … Continue reading →

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