Category Archives: California

Back to the Old Drawing Board

Posted on May 23, 2018 by Russ

I’ve written before about certain states’ efforts to get around the new $10,000 cap on state and local taxes that can be deducted on federal tax returns. The IRS announced today they will be proposing regulations later this year on … Continue reading →

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Bozo Tax Tip #9: Nevada Corporations

Posted on April 3, 2018 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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The Price Tag on California’s Train to Nowhere Jumps Another 17%

Posted on March 9, 2018 by Russ

What is the cost to fly from Los Angeles to San Francisco? I decided to check Southwest Airlines for a date one month out (April 11th); the cost is $50 each way or $100 for the round trip. I think … Continue reading →

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Have I Committed Malpractice?

Posted on February 2, 2018 by Russ

Let’s say John Smith is a consultant in Syracuse, New York. His business is conducted fully in Syracuse. He never travels outside of Syracuse. He writes reports on a niche area for businesses. Mr. Smith files and pay New York … Continue reading →

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

Posted on January 22, 2018 by Russ

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

Posted on January 8, 2018 by Russ

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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The 2017 Tax Offender of the Year

Posted on December 31, 2017 by Russ

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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Reason Magazine on Gilbert Hyatt vs. California’s Franchise Tax Board

Posted on October 26, 2017 by Russ

Reason magazine has a superb presentation on Gilbert Hyatt’s battle with California’s Franchise Tax Board. I cannot recommend it highly enough:

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California Fire Victims Have Extension Until January 31, 2018

Posted on October 13, 2017 by Russ

The IRS announced today that California wildfire victims have until January 31, 2018 to file various tax returns (including tax returns on extension due this coming Monday, October 16th). California’s Franchise Tax Board (the state income tax agency) immediately followed … Continue reading →

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The Train to Nowhere Remains a Boondoggle

Posted on September 22, 2017 by Russ

California’s high speed rail, aka The Train to Nowhere, remains likely to never carry passengers between Northern California and Southern California. Perhaps the segment linking Merced and Shafter (just north of Bakersfield) will run (although unlikely at high speed); more … Continue reading →

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