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Note: All Content is Copyright © 2005 – 2024 by Clayton Financial and Tax LLC.
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Author Archives: Russ
The “Joy” of 1959 Technology
Clients of ours (call them John & Betty) just received their IRS refund. It was off by $1,250, exactly the amount of an estimated tax payment they made. They made that payment using IRS Direct Pay (and I saw their … Continue reading
Surviving a Residency Audit
A few years ago, one of my clients (call him Bob) moved from California to Nevada. He then had a very large capital gain (but while a Nevada resident). At the time, I advised him that a residency examination (audit) … Continue reading
Posted in California, Nevada
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An Identity Protection Unit Saga: Part 6
When last we left the saga of my client and his tax year 2020 refund, we were waiting for a call from the Taxpayer Advocate Office. Well, we received the callback and my client’s refund check was issued last Friday. … Continue reading
Posted in IRS
Tagged Identity.Protection.Unit, Taxpayer.Advocate.Service
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Bozo Tax Tip #1: Use a Bozo Tax Professional!
The IRS recently highlighted that taxpayers should choose tax professionals wisely; I agree. I’ve had this as a Bozo Tax Tip in the past, but a new client highlighted this issue for me. In the previous iteration of this “tip,” … Continue reading
Posted in Tax Preparation
Tagged BozoTaxPreparer, BozoTaxTips
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Bozo Tax Tip #2: Withhold, but Don’t Remit, Your Employment Taxes!
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
Posted in Payroll Taxes
Tagged BozoTaxTips
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Bozo Tax Tip #3: Publicize Your Tax Crimes on Social Media!
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
Posted in Tax Fraud
Tagged BozoTaxTips
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Bozo Tax Tip #4: The $0.68 Solution
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
Bozo Tax Tip #5: Procrastinate!
Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2024, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading
Bozo Tax Tip #6: My Business Is Online So I Don’t Have to File State Taxes!
Ralph (not his real name) formed a virtual business–a quite common activity these days. Perhaps he sells products (using Amazon or another large fulfillment company to do the actual movement of goods), or maybe he has a consulting practice or … Continue reading
Posted in Tax Preparation
Tagged BozoTaxTips
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Bozo Tax Tip #7: Anger Your Tax Professional!
If you are a tax professional living in Las Vegas, and you’re interested in working for me for the 2025 Tax Season (2024 tax returns filed in 2025)–or you are in Las Vegas and you’re interested in becoming a tax … Continue reading
Posted in Tax Preparation
Tagged BozoTaxTips
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