Monthly Archives: August 2006

New Pension Law Changes Charitable Donations Rule

Posted on August 11, 2006 by Russ

The new Pension Law, which will be signed into law by President Bush next week, will impact areas that have nothing to do with pensions. Joe Kristan at Roth Tax Updates writes how you will need to have a receipt … Continue reading →

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No Knowledge of Trusts? No Problem…For A While

Posted on August 9, 2006 by Russ

A chiropractor put his business in a trust. He admits he had no idea of how trusts work and he never performed the duties of a trustee. Given that I’m writing about this, I’m sure you know where this is … Continue reading →

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If You Admit Fraud, It’s Hard to Deny Fraud

Posted on August 8, 2006 by Russ

The Tax Court today looked at a case where the government went after a couple who had been convicted of insurance fraud. The problems began in 1998, when the fraud was committed. There was $272,963 in unreported income. As you … Continue reading →

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Miami Vice

Posted on August 8, 2006 by Russ

Former Atlanta Mayor Bill Campbell will begin serving his 2 1/2 year sentence on August 21st. Campbell’s request to stay free while appealing his sentence was denied last week by Judge Richard Story. Story noted that Campbell “as not shown … Continue reading →

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Congress Fiddles…

Posted on August 5, 2006 by Russ

One day, sometime in the future, Congress will complete all their work on appropriation and tax measures before the August recess. But it won’t be this year (and it probably won’t be for many years). On Thursday the Senate failed … Continue reading →

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Washington 4, Indians 0

Posted on August 5, 2006 by Russ

If you’re a Native American and reside in California on a reservation, you’re exempt from California personal income tax. However, you’re not exempt from federal income tax. And that’s where this story begins. The Chumash tribe runs a very successful … Continue reading →

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Shameless Self Promotion

Posted on August 2, 2006 by Russ

There’s nothing at all about tax in this post. You’re all forewarned. Instead, this post focuses on my avocation—writing. My second book has just been released. Written with my good friend Scott Harker, it’s called Why You Lose at Poker. … Continue reading →

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Tax Havens Under Attack

Posted on August 2, 2006 by Russ

With an estimated $40 to $70 billion in taxes lost each year because of tax havens, the Senate Homeland Security and Governmental Affairs Committee was naturally quite interested in plugging this hole. Yesterday the panel heard testimony from IRS Commissioner … Continue reading →

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