Category Archives: Tax Preparation

It’s Time to Panic!

Posted on October 9, 2018 by Russ

If you haven’t done your taxes yet but have an extension, it is now officially TIME TO PANIC! The deadline is in less than one week (unless you’re in a hurricane disaster zone, and that will, unfortunately, likely include the … Continue reading →

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Let Us Entertain You (or Not)

Posted on September 20, 2018 by Russ

The Tax Cuts and Jobs Act (TCJA) or, as I like to call it, the 2017 tax reform law, changed quite a few things for taxes. Most of these lower rates, or add a new deduction or credit. However, there … Continue reading →

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Bozo Tax Tip #5: Use a Bozo Accountant!

Posted on April 9, 2018 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 April 2, 2018 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 fifth year in … Continue reading →

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Driver’s Licenses and Tax Filings

Posted on February 5, 2018 by Russ

Many states are now requiring we obtain your driver’s license information (or state ID) in order to file your return. Currently, these states are requiring this information: – Alabama – California – Colorado – Illinois – Kansas – Louisiana – … Continue reading →

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Court Rules IRS Cannot Charge for PTINs

Posted on June 2, 2017 by Russ

Back in 2010 to 2011 the IRS ordered all tax professionals to obtain a PTIN–a Preparer Tax Identification Number. The IRS stated this was necessary to track tax professionals, and would help in regulating the tax professional community. There is … Continue reading →

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That Was the Tax Season that Was

Posted on April 23, 2017 by Russ

April 15th, err, make that April 18th, has come and gone. Every Tax Season is different, and this one had its ups and downs. So let’s take a look at eight observations I have of the first part of the … Continue reading →

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Bozo Tax Tip #8: Lie to Your Tax Professional!

Posted on April 4, 2017 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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Please Don’t Do This!

Posted on January 10, 2017 by Russ

Joe Kristan tweeted the following last weekend: When a taxpayer emails his IP-PIN letter as an unencrypted attachment after his ID has been stolen… pic.twitter.com/oZIdYMZGnE — Joe Kristan (@joebwan) January 8, 2017 As I was going through my emails this … Continue reading →

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The Time for Procrastination Is Over

Posted on September 6, 2016 by Russ

Labor Day, the unofficial end of summer, has come and gone. It even felt like Autumn this morning here in Las Vegas (it was below 70). For those who filed an extension and have waited to prepare their tax returns, … Continue reading →

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