Monthly Archives: September 2006

California Propositions: Proposition 1A

Posted on September 14, 2006 by Russ

Californians will have a long ballot to wade through this November. Over the next few weeks, we’re going to review all of the tax-related propositions on the ballot, beginning with Proposition 1A. This is one of five propositions that Governor … Continue reading →

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When You’re Not Feeling Charitable

Posted on September 13, 2006 by Russ

The Tax Court was not in a charitable mood today. Five cases dealing with charitable deductions, all from Pennsylvania, were decided. In all of them, the petitioners were unable to provide proof of the donations and they all lost their … Continue reading →

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The AMT Is Unfair, But You Still Have to Pay It

Posted on September 12, 2006 by Russ

Like clockwork, about once a month someone challenges in Tax Court the Alternative Minimum Tax. It’s unfair, it’s too complex, it’s just plain old mean…those are just some of the arguments used against the AMT. There’s jut one problem: The … Continue reading →

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Remember…

Posted on September 11, 2006 by Russ

Today is the fifth anniversary of 9/11. Remember those who serve our country in the Armed Forces. Remember those who have given their lives fighting a tyrannical foe over the last five years. Remember those who lost their lives on … Continue reading →

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“The U.S. Marines Couldn’t Keep Me Away”

Posted on September 10, 2006 by Russ

So said Conrad Black, also known as Lord Black of Crossharbour. Lord Black waived extradition from Canada (his native home) or Great Britain (where he is a Lord) and will face a March 2007 trial on fraud, racketeering, and tax … Continue reading →

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How to be a Millionaire, Illegal Style

Posted on September 10, 2006 by Russ

There are lots of ways to become a millionaire. You can build a successful business, have real estate appreciate, and of course inherit money. You can win the lottery. Or you can do it illegally. One way is to collect … Continue reading →

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Largest Tax Fraud Case In US History

Posted on September 8, 2006 by Russ

Walter Anderson, a former telecommunications executive, pleaded guilty to evading $200 million in taxes today. Anderson had apparently hid $450 million in offshore bank accounts in the Channel Islands and elsewhere. In the not-so-brilliant category, investigators found a copy of … Continue reading →

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Telephone Tax Refunds

Posted on September 6, 2006 by Russ

As mentioned earlier, 2006 saw the end of the Spanish-American War (of 1898)…well, the funding for the war. The telephone excise tax, a “luxury” tax, has ended for most services. Taxpayers will receive refunds with their 2007 tax returns. The … Continue reading →

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Crime Didn’t Pay…

Posted on September 4, 2006 by Russ

…for these individuals. First up is Minish Mehta of South San Francisco. He’ll be spending 15 months at ClubFed. He ran a number of Bay Area parking lots and had a unique method of dealing with the cash collected. If … Continue reading →

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Gratuity Included

Posted on September 3, 2006 by Russ

An interesting story from Las Vegas: It seems that there’s a problem with tips, and tip reporting, in Sin City. The American Gaming Association is very unhappy about the IRS’ enforcement of the voluntary tip program. This program allows workers … Continue reading →

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