Category Archives: Nevada

Of Strip Clubs, Doormen, Taxi Drivers, and Ca$h

Posted on May 2, 2010 by Russ

I’ve made plenty of posts on strip clubs and how some owners of these clubs manage to “forget” to report all of their cash income. Well, I’m heading to Las Vegas next week for the annual California Society of Enrolled … Continue reading →

Posted in IRS, Nevada | Tagged | 1 Comment

Nevada’s Budget Troubles

Posted on February 18, 2010 by Russ

While California has been on center stage with its budget troubles, Nevada, too, has had problems. The Silver State is facing an $887 million budget deficit (by comparison, California is facing a $19.9 billion deficit). Unemployment is high, and revenues … Continue reading →

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California, Nevada, and Texas

Posted on August 26, 2009 by Russ

A California State Assemblyman is upset with the ads that the Nevada Development Corporation is running. California is golden, and Nevada is silver. Why would any business leave? Here’s Assemblyman Jose Solorio’s (D-Anaheim) response: Before I comment on that, there’s … Continue reading →

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Las Vegas 2, Sacramento 0

Posted on August 9, 2009 by Russ

The Nevada Development Authority is Southern Nevada’s government agency that attempts to draw new businesses to the Las Vegas area. They’ve got a new campaign aimed at California. Why? Well, the California Legislature is making the NDA’s job easy. Here’s … Continue reading →

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Nevada Also Has a Budget Crisis

Posted on May 3, 2009 by Russ

Nevada has its own budget crisis. The Silver State budgets biennially. The Nevada Legislature voted an $8 billion budget late last year. However, it appears that only $5.5 billion in revenue will be raised during 2010 and 2011. Republican Governor … Continue reading →

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Bozo Tax Tip #7: Nevada Corporations

Posted on April 6, 2009 by Russ

Nevada is doing everything it can to draw businesses from California. Frankly, California is doing a lot to draw businesses away from the Bronze Golden State. But just like last year you need to beware if you’re going to incorporate … Continue reading →

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Weekend Mailbag

Posted on March 15, 2009 by Russ

Three questions of interest this weekend. The first deals with moving to Nevada, the second with the requirement to report foreign financial accounts, and the third deals with deducting clothing. First, a reader asks: I want to move to Nevada. … Continue reading →

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The FTB Losing Streak Continues

Posted on February 8, 2009 by Russ

The Franchise Tax Board’s battle against Gilbert Hyatt continues in Las Vegas. Mr. Hyatt, as you may recall, moved from California to Las Vegas in the early 1990s a few months before he received a patent settlement in the millions. … Continue reading →

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Blinders Here, Blinders There

Posted on November 26, 2008 by Russ

The dysfunctional California legislature was unable to resolve the budget fiasco yesterday. Democrats proposed a plan that would have tripled the car tax and made a few symbolic budget cuts; Republicans refused to vote for it because they want a … Continue reading →

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Good Summary of Hyatt Case

Posted on August 20, 2008 by Russ

The Las Vegas Review-Journal has published an excellent summary of the Gilbert Hyatt case and judgments. Mark Hutchison, Mr. Hyatt’s lead attorney, believes that the Franchise Tax Board will appeal the case. (I agree with him that the case will … Continue reading →

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