Last year, I wrote about James Andrew Yeager. Mr. Yeager operated a strip club in Columbia, Missouri. Strip clubs are a cash business, and Mr. Yeager decided that he needn’t report all the cash as income. He pleaded guilty last year to tax evasion.
Last week, he found out his sentence: 21 months at ClubFed, and restitution of $140,543 plus paying additional back taxes of $36,732.
The strip club, Club Vogue, is still in operation. The news story from last year said he owned the club; this year’s story makes that unclear. If Mr. Yeager is the owner, the US government may soon own a strip club (seizing the assets to pay the back taxes).
So if you are a strip club owner, may I recommend—as I have before—that you pay your taxes. Cash income is taxable….
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