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Tag Archives: BozoTaxTips
Bozo Tax Tip #1: No Tax Form, No Income!
A new client was on the phone with me last week: “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 … Continue reading
Bozo Tax Tip #2: Anger Your Tax Professional!
If you are a tax professional living in Las Vegas, and you’re interested in working for me for the 2023 Tax Season (2022 tax returns filed in 2023)–or you are in Las Vegas and you’re interested in becoming a tax … Continue reading
Posted in Taxable Talk
Tagged BozoTaxTips
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Bozo Tax Tip #3: Ignore Cryptocurrency!
Right underneath your name and address (and your spouse’s name) on Form 1040 is this question: “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?” All taxpayers must … Continue reading
Posted in Cryptocurrencies
Tagged BozoTaxTips
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Bozo Tax Tip #5: Procrastinate!
Today is April 11th. The tax deadline is just seven days away. What happens if you wake up and it’s April 18, 2022, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading
Posted in IRS, Maine, Massachusetts
Tagged BozoTaxTips
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Bozo Tax Tip #6: The $0.58 Solution
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
Bozo Tax Tip #7: Only Income Earned Outside the United States Is Taxable
A few days ago I was explaining to a client the basics of the US Tax Code: All income is taxable unless Congress exempts it; nothing is deducible unless Congress allows it. That’s the basics. My office is in Las … Continue reading
Posted in International
Tagged BozoTaxTips
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Bozo Tax Tip #8: Nevada Corporations (or LLCs)
As we continue with our Bozo Tax Tips–things you absolutely, positively shouldn’t do but somewhere someone will try anyway–it’s time for an old favorite. Given the business and regulatory climate in California, lots of businesses are trying to escape taxes … Continue reading
Posted in California, Nevada
Tagged BozoTaxTips
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Bozo Tax Tip #9: Move Without Moving!
Over ten years ago, we moved from Irvine, California to Las Vegas. The home in Irvine was sold, a home was purchased in Las Vegas, and the belongings went from the Golden State to the Silver State. Cars were re-registered, … Continue reading
Posted in California, New York
Tagged BozoTaxTips
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Bozo Tax Tip #10: Email Your Social Security Number (or EIN)!
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 ninth year in … Continue reading
Posted in Tax Preparation
Tagged BozoTaxTips
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