Author Archives: Russ

Bozo Tax Tip #2: The Eternal Hobby Loss

Posted on April 9, 2015 by Russ

The goal of must businesses is to make money. There aren’t many businesses that can lose on each sale and make it up in volume. In fact, I don’t know of any. But I digress…. So let’s take Sam and … Continue reading →

Posted in IRS | Tagged | 1 Comment

Bozo Tax Tip #3: Just Don’t File

Posted on April 8, 2015 by Russ

We’re running some repeats, but there is some new Bozo material coming. It’s just that people keep trying the same things over and over again. It’s tough to avoid the tax system. There are currency transaction reports (cash transactions of … Continue reading →

Posted in IRS | Tagged | 1 Comment

Bozo Tax Tip #4: Procrastinate!

Posted on April 8, 2015 by Russ

Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2015, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

Posted in IRS | Tagged | 1 Comment

Bozo Tax Tip #5: Ignoring California

Posted on April 6, 2015 by Russ

Perhaps I should call this Bozo Tax Tip “Forming a California Trust.” Why? Let me explain. Let’s assume John and Jane, two California residents, form a trust to benefit their children, Ann and Bob. Ann lives in Florida; Bob resides … Continue reading →

Posted in California, Florida, Nevada | 1 Comment

Bozo Tax Tip #6: Nevada Corporations

Posted on April 5, 2015 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 →

Posted in California, Nevada | 1 Comment

Bozo Tax Tip #7: Be Suspicious!

Posted on April 2, 2015 by Russ

As I write this (in March), I just got off the phone with one of my clients. He’s had a very good year, and has $100,000 in cash to deposit. He had been keeping the money as cash because he … Continue reading →

Posted in IRS | Comments Off on Bozo Tax Tip #7: Be Suspicious!

IRS Website and Electronic Services Down

Posted on April 2, 2015 by Russ

I have been trying to get into two different IRS websites since midday yesterday but can’t. It appears that the IRS may be a victim of a DDOS (distributed denial of service) attack or there website simply has gone down. … Continue reading →

Posted in Uncategorized | Comments Off on IRS Website and Electronic Services Down

Bozo Tax Tip #8: Be Frivolous!

Posted on April 1, 2015 by Russ

I’d love to be frivolous during tax season. But the inbox is full, the piles of paper don’t go anywhere unless I move them, and my next day off is April 16th. I can get a good laugh when I … Continue reading →

Posted in IRS | 1 Comment

Bozo Tax Tip #9: 300 Million Witnesses Can’t Be Right!

Posted on March 31, 2015 by Russ

For tax bloggers like myself, Richard Hatch has been a godsend. His antics have been, well, remarkable. While he’s no longer at the top of my Bozo Tax Tips, his story is one that prospective tax offenders should learn. I … Continue reading →

Posted in Tax Evasion | Tagged | 1 Comment

Bozo Tax Tip #10: Email Your Social Security Number

Posted on March 29, 2015 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 from last year, but it’s … Continue reading →

Posted in Uncategorized | 1 Comment