Author Archives: Russ

Bozo Tax Tip #8: No Tax Form, No Income!

Posted on April 3, 2024 by Russ

Two years ago I was speaking with a new client: “Russ, I just found out that I don’t get a tax form for the income I earn. That means I don’t have to report it, right?” This individual is filing … Continue reading →

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Bozo Tax Tip #9: Ignore California!

Posted on April 2, 2024 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 or EIN!

Posted on April 1, 2024 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 eleventh year in … Continue reading →

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The Train to Nowhere Needs $100 Billion More

Posted on March 18, 2024 by Russ

I haven’t written about California’s bullet train in some time, but the news from the Golden State for the train leads me to conclude it will never be completed.  A news story notes that the train needs $4 to $7 … Continue reading →

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Corporate Transparency Act Ruled Unconstitutional; Appeal Certain

Posted on March 3, 2024 by Russ

On Friday, an Alabama federal judge ruled that the Corporate Transparency Act (CTA)–the law that authorized Beneficial Ownership Information (BOI) reporting–is unconstitutional.  As of today, this decision impacts one business in northern Alabama, but given an appeal is a certainty … Continue reading →

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San Diego County Gets Extension Until June 17th

Posted on February 28, 2024 by Russ

Heavy rains and flooding in San Diego caused the area to be declared a federal disaster zone.  The IRS extended all tax deadlines in San Diego County from January 21, 2024 onward until June 17, 2024.  This includes individual, business, … Continue reading →

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A Reminder for Charities and Officers in Charities

Posted on February 15, 2024 by Russ

I live in a swing district in a swing state.  One of the things we dread is election mail.  The primary for state offices is in June, and already we’re receiving flyers.  I’m sure the robocalls are soon to come … Continue reading →

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Do I Really Have to Wait for that $10 K-1 to Arrive?

Posted on February 12, 2024 by Russ

Earlier this week, a client came in for his annual visit (call him John).  John invested in a new investment partnership this year, and he was told by the partnership that the only item on his K-1 will be exactly … Continue reading →

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Online Gambling and Cryptocurrency Addresses for 2024

Posted on February 8, 2024 by Russ

This list has been replaced by the 2025 List. If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2023, you must file the Report of Foreign Bank and … Continue reading →

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A Retroactive Tax Bill: What Can Go Wrong?

Posted on February 1, 2024 by Russ

Last night, the House of Representatives passed tax legislation that would increase the Child Tax Credit for 2023, allow businesses to expense research and development expenses, tax relief for wildfires and the train derailment in East Palestine, Ohio, and some … Continue reading →

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