Author Archives: Russ

Bozo Tax Tip #4: Procrastinate!

Posted on April 10, 2017 by Russ

Today is April 11th. The tax deadline is just seven days away. What happens if you wake up and it’s April 18, 2017, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #5: The $0.49 Solution

Posted on April 9, 2017 by Russ

With Tax Day fast approaching it’s time to examine yet another Bozo method of courting disaster. And it doesn’t, on the surface, seem to be a Bozo method. After all, this organization has the motto, Neither rain nor snow nor … Continue reading →

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Bozo Tax Tips #6: Publicize Your Tax Crimes on Social Media!

Posted on April 6, 2017 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 #7: Nevada Corporations

Posted on April 5, 2017 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 #8: Lie to Your Tax Professional!

Posted on April 4, 2017 by Russ

Like almost all tax professionals, we use an Engagement Letter. The Engagement Letter has grown from one page to three pages. Some of this relates to items that my attorney wants on the document; some of the growth is from … Continue reading →

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Bozo Tax Tip #9: Who Needs to Pay Employment Taxes?!?

Posted on April 3, 2017 by Russ

This Bozo Tax Tip—and do remember, these are things you really, really, really shouldn’t try—is aimed at the business owner who is having troubles. Business owners, unlike the federal government, can’t just print money. So let’s assume our hypothetical business … Continue reading →

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Bozo Tax Tip #10: Email Your Social Security Number

Posted on April 2, 2017 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 fourth year in … Continue reading →

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Annual Blog Hiatus

Posted on March 21, 2017 by Russ

It’s time for my annual blog hiatus. The annual Bozo Tax Tips have been written and will start appearing around April 1st. I’ll be back with new blog content about April 21st. (If something truly momentous happens in the tax … Continue reading →

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Do Not Blindly Pay IRS Notices, Reason ∞

Posted on March 20, 2017 by Russ

One of my clients angrily sent me a message today. She received an IRS Automated Underreporting Unit (AUR) notice alleging that she did not include $50,000 of W-2Gs on her 2015 tax return. She’s a professional gambler, so I looked … Continue reading →

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The Other March 15th Deadlines

Posted on March 15, 2017 by Russ

Today’s the deadline for filing partnership and S-Corporation returns. An extension is available by filing Form 7004. Most (but not all) states grant an automatic extension. Do realize that if your state charges a tax for your entity (i.e. New … Continue reading →

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