Tag Archives: BozoTaxTips

Bozo Tax Tip #1: If It Sounds too Good to be True…

Posted on April 10, 2026 by Russ

…it probably is.  That’s how the cliche goes, and it’s generally accurate.  If someone tells you: If you invest $10,000 in [whatever], you magically get a $50,000 deduction; If you buy $20,000 of Brazilian accounts receivable, you can get a … Continue reading →

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Bozo Tax Tip #2: Use a Bozo Tax Professional

Posted on April 10, 2026 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 #3: Not Remitting Payroll Taxes

Posted on April 9, 2026 by Russ

A couple of years ago, I received a visit from a member of the IRS’s Criminal Investigation unit.  It turns out a client, call him Larry, had worked for a company that decided to not remit payroll taxes.  The loss … Continue reading →

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Bozo Tax Tip #4: Procrastinate!

Posted on April 8, 2026 by Russ

Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2026, 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 #5: 300 Million Witnesses Can’t Be Right!

Posted on April 7, 2026 by Russ

For tax bloggers like myself, the saga of Richard Hatch was a godsend. His antics were, well, remarkable.  One tip I can give any celebrity: Be careful about your taxes. The IRS loves going after Bozo tax celebrities. So here’s … Continue reading →

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Bozo Tax Tip #6: Remitting Sales Tax Is an Unnecessary Activity

Posted on April 6, 2026 by Russ

Imagine you are running a business. Times are tough and you need to make some serious cuts in expenses to stay afloat. Or perhaps you are just greedy. In any case, let’s suppose you neglect to pay your payroll tax. … Continue reading →

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Bozo Tax Tip #7: Hot Air

Posted on April 3, 2026 by Russ

Congress has decided to legislate through the Tax Code. There are hundreds of tax credits that now exist. These range from the Earned Income Credit, education credits, child tax credits, and adoption credits. Some of these credits, such as the … Continue reading →

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Bozo Tax Tip #8: The $0.78 Solution

Posted on April 2, 2026 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 #9: Honey, You Don’t Exist!

Posted on April 1, 2026 by Russ

I had just completed the return for a long-time client, and he asked the question, “Does my being married change my return?” I said it did, and asked when he got married; he responded, “Last Valentine’s Day.”  It must be … Continue reading →

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Bozo Tax Tip #10: Email You Social Security Number, ITIN, or EIN!

Posted on March 31, 2026 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 thirteenth year in … Continue reading →

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