Tag Archives: BozoTaxTips

Bozo Tax Tip #1: Declare More Income than You Earned!

Posted on April 13, 2017 by Russ

Why in the world would anyone of sound mind and body declare more income than they actually earned? He or she would owe more tax, so there’s no reason to do this, right? No, there are actually two reasons people … Continue reading →

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Bozo Tax Tip #2: Cash Isn’t Taxable

Posted on April 12, 2017 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 #3: Let Your IRS Notice Age Like Fine Wine!

Posted on April 11, 2017 by Russ

Here’s another repeat from last year, but it’s something that bears repeating. My brother is a wine connoisseur. As all my friends know, I’m anything but a wine aficionado. But I have learned one difference between fine wine and a … Continue reading →

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Bozo Tax Tip #4: Procrastinate!

Posted on April 10, 2017 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, 2017, 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: The $0.49 Solution

Posted on April 9, 2017 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 Tips #6: Publicize Your Tax Crimes on Social Media!

Posted on April 6, 2017 by Russ

Social media is really, really big these days. You can follow me on Twitter. I may even update my Facebook page one of these days. Of course, I’m not a tax criminal, and my posts hopefully add knowledge for others. … Continue reading →

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Bozo Tax Tip #7: Nevada Corporations

Posted on April 5, 2017 by Russ

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 →

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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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Bozo Tax Tip #9: Who Needs to Pay Employment Taxes?!?

Posted on April 3, 2017 by Russ

This Bozo Tax Tip—and do remember, these are things you really, really, really shouldn’t try—is aimed at the business owner who is having troubles. Business owners, unlike the federal government, can’t just print money. So let’s assume our hypothetical business … Continue reading →

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Bozo Tax Tip #10: Email Your Social Security Number

Posted on April 2, 2017 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 fourth year in … Continue reading →

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