Monthly Archives: June 2008

Where’s Hyman Roth When You Need Him?

Posted on June 29, 2008 by Russ

Last year I wrote about Naftali Tzi Weisz. Mr. Weisz is the Grand Rabbi of Spinka. He’ll also be standing trial in September charged with tax fraud. He’s accused of soliciting charitable donations but promising to refund most of the … Continue reading →

Posted in Tax Fraud | 1 Comment

Yet Another Strip Club Owner Ends Up at ClubFed

Posted on June 29, 2008 by Russ

As I’ve said before it seems that strip club owners and tax evasion go together hand-and-hand. Curt D. Kosow owned Bare Elegance, a gentlemen’s club in Pittsburgh’s “Strip District.” (No, I’m not making that up. The Pittsburgh Post-Gazette story uses … Continue reading →

Posted in Tax Evasion | Comments Off on Yet Another Strip Club Owner Ends Up at ClubFed

It’s Not Wise to be a Bozo

Posted on June 29, 2008 by Russ

Two more Bozo tax preparers won’t be harming consumers any more. Let’s just say up front that the methods used weren’t wise. First, we’ll head to Union City, Georgia. Majalai Wisdom prepared plenty of tax returns from 2000-2004.Me And her … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on It’s Not Wise to be a Bozo

Hurry Up and Wait

Posted on June 29, 2008 by Russ

Last week the House of Representatives passed an AMT patch for 2008. That patch contained offsets (tax increases) which doom it in the Senate. Further, President Bush promises a veto if it somehow manages to make it out of Congress. … Continue reading →

Posted in Legislation | Comments Off on Hurry Up and Wait

We Get Questions on Gambling and Taxes

Posted on June 24, 2008 by Russ

Question 1. “Good afternoon Russ, “I am a regular [poker] player online and I was wondering the policy in the state of California? Is there a certain amount and above that needs to be reported on your taxes? Since the … Continue reading →

Posted in Gambling | Comments Off on We Get Questions on Gambling and Taxes

Mileage Rates Increase

Posted on June 23, 2008 by Russ

The IRS announced today that mileage rates will increase on July 1st. The new business mileage rate is $0.585/mile (up from $0.505/mile); the new medical and moving mileage rate is $0.27/mile (up from $0.19/mile). The charitable mileage rate is unchanged—it … Continue reading →

Posted in IRS | Comments Off on Mileage Rates Increase

Praise the Lord and Go to Jail

Posted on June 22, 2008 by Russ

Suckers are born every day, and so are the people out to fleece them. I’ve reported in the past on Aegis Corporation, a now defunct Chicago-based vendor of offshore trusts. The former owner of Aegis is spending 30 months at … Continue reading →

Posted in Tax Fraud | Comments Off on Praise the Lord and Go to Jail

Completing the Circle

Posted on June 22, 2008 by Russ

Last year I reported on Circle Industries, the Alpharetta, Georgia based international construction company. The father and son owners conspired with their bookkeeper to deduct personal expenses on their business return, including things like visits to Atlanta’s Gold Club, an … Continue reading →

Posted in Tax Fraud | Comments Off on Completing the Circle

Federal Tax Fraud: The Users Guide, Part 2

Posted on June 19, 2008 by Russ

As a published author I know that finding the right title for a book can be a difficult task. My writing partner and I struggled with the title for our first book while for our second book we chose the … Continue reading →

Posted in Tax Fraud | Comments Off on Federal Tax Fraud: The Users Guide, Part 2

Ask Your Attorney and Accountant and Then Act

Posted on June 18, 2008 by Russ

Joe Kristan has an excellent post this morning on why your first should talk to your business attorney and accountant and then act on a change to your business entity. If you act first you may very well end up … Continue reading →

Posted in Entity Formation | Comments Off on Ask Your Attorney and Accountant and Then Act