Category Archives: Tax Preparation

The 2021 Tax Season (Part 1)

Posted on June 14, 2021 by Russ

I’ve had good Tax Seasons and bad Tax Seasons, but the first part of the 2021 Tax Season was unique.  And uniqueness doesn’t mean good nor does it mean bad.  Both points were present this year, and continue to be … Continue reading →

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Bozo Tax Tip #1: Lies, Deceit, and Nefarious Schemes!

Posted on May 14, 2021 by Russ

The following two stories are true.  Only the names have been changed to protect the Bozos. I was at the barber shop a couple of weeks ago and overheard a barber (not mine) telling someone, …I just filed my tax … Continue reading →

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Bozo Tax Tip #4: The $0.55 Solution

Posted on May 11, 2021 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 #5: Procrastinate!

Posted on May 10, 2021 by Russ

Today is May 10th. The tax deadline is just seven days away. What happens if you wake up and it’s May 17, 2021, 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: Use a Bozo Tax Professional!

Posted on May 7, 2021 by Russ

Here’s another Bozo Tax Tip that keeps coming around. The problem is, the Bozos don’t change their stripes. In any case, here are some signs your accountant might be a Bozo: – He’s never met a deduction that doesn’t fit … Continue reading →

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

Posted on May 3, 2021 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 eighth year in … Continue reading →

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The Perils of Waiting to the Last Minute

Posted on September 17, 2020 by Russ

The extended deadline for partnership and S-Corporation tax returns was this past Tuesday, and all of our returns were completed and filed that could be (but one). And that one client understood the issues with late filing–but more on that … Continue reading →

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Bozo Tax Tip #3: Lie to Your Tax Professional

Posted on July 10, 2020 by Russ

Like almost all tax professionals, we use an Engagement Letter. The Engagement Letter has grown from one page to three pages. Some of this relates to items that my attorney wants on the document; some of the growth is from … Continue reading →

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Bozo Tax Tip #8: Amend Rather than Extend

Posted on July 5, 2020 by Russ

Last week I spoke with one of my clients, Liz, who wanted to file her return immediately. She’s getting a large refund, and she’d like it now. The problem is she participates in ten partnerships, and one of those ten … Continue reading →

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Today *Is* the Partnership and S-Corp Filing Deadline

Posted on March 16, 2020 by Russ

During a news conference last week President Trump stated something to the effect that he was ordering Secretary of the Treasury Mnuchin to extend tax filing deadlines. That has not happened as of the moment I’m writing this. Today is … Continue reading →

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