Author Archives: Russ

January 31st Tax Deadlines: 2016 Hurricane Extensions and Information Returns

We’re one week away from the first tax deadline of the 2018 Tax Season along with the final tax deadline for filing 2016 tax returns. Taxpayers on extension for filing 2016 tax returns because of Hurricanes Harvey, Irma or Maria … Continue reading

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IRS & FTB Give Tax Relief to Wildfire and Mudslide Victims in Southern California

The IRS announced last week that they are giving tax relief to victims of the Southern California wildfires and mudslides. The IRS extended impacted taxpayers’ deadlines that fell (or will fall) between December 4, 2017 and April 29, 2018 to … Continue reading

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IRS Releases New 2018 Withholding Tables

The IRS announced today the release of new withholding tables reflecting the new tax law. These will be used for W-2s, and should be used no later than February 15th. The IRS is working on a new W-4 form that … Continue reading

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It’s 1099 Time

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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Why California’s Attempt to Make State Taxes a Charitable Deduction is Doomed

When your budget is out of balance there are two ways of getting it in balance: cutting spending or increasing revenue. For California’s Democratic politicians, the only way they want to balance the budget is to increase the revenue. The … Continue reading

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Start Your 2018 Mileage Log Now

I’m going to start the new year with a few reposts of essential information. Yes, you do need to keep a mileage log: Tuesday was the first business day of the new year for many. You may have resolved to … Continue reading

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IRS Announces Tax Filing Season Begins January 29th

The IRS today announced that the 2018 Tax Filing Season will begin on Monday, January 29th. This year’s deadline for individual returns is Tuesday, April 17th.

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Blogroll Update

It’s been a while, but I’ve finally updated the blogroll. I’ve removed the deadwood and added a few new blogs (and tax agencies). If you have a tax blog that you think should be added, let me know by commenting. … Continue reading

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The 2017 Tax Offender of the Year

It’s once again time for that most prestigious of prestigious awards, the Tax Offender of the Year. To win this award you need to do more than cheat on your taxes; it has to be a Bozo-like action or actions. … Continue reading

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Tax Law Signed; New Year Likely to Bring Lots of New S-Corporations

President Trump signed the tax reform legislation into law. While there are many changes for 2018, one of the biggest is the new Section 199a deduction. This allows a 20% writeoff of net income for sole proprietors, owners of S-Corporations, … Continue reading

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