Category Archives: Tax Preparation

A Phish A Day…

Posted on July 26, 2024 by Russ

Phishing is something tax professionals see daily.  We have antivirus and malware protection installed throughout our network and on all workstations, but I still see a phishing email a day.  Here’s one: There are a number of clues that this … Continue reading →

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Bozo Tax Tip #1: Use a Bozo Tax Professional!

Posted on April 12, 2024 by Russ

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 →

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Bozo Tax Tip #6: My Business Is Online So I Don’t Have to File State Taxes!

Posted on April 5, 2024 by Russ

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 →

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Bozo Tax Tip #7: Anger Your Tax Professional!

Posted on April 4, 2024 by Russ

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 →

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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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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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Bozo Tax Tip #2: Cash Isn’t Taxable

Posted on April 13, 2023 by Russ

I haven’t run this Bozo Tax Tip in a few years, but it reared its head again just a couple of weeks ago (as you read this). A new client came into my office for the preparation of his tax … Continue reading →

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Bozo Tax Tip #4: Procrastinate!

Posted on April 11, 2023 by Russ

Today is April 11th. The tax deadline is just seven days away. What happens if you wake up and it’s April 18, 2023, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #6: The $0.63 Solution

Posted on April 7, 2023 by Russ

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 →

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Bozo Tax Tip #10: Email Your Social Security Number or EIN!

Posted on April 3, 2023 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 tenth year in … Continue reading →

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