Monthly Archives: December 2008

Strip Clubs and Sushi

Posted on December 14, 2008 by Russ

Lots of fraud this week, so we’ll start with a couple favorites of mine. First, from Inver Grove Heights, Minnesota comes the story of Lawrence Kladek. Mr. Kladek owns King of Diamonds Gentlemen’s Club. Mr. Kladek had an ATM installed … Continue reading →

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Like Sands Through an Hourglass…

Posted on December 14, 2008 by Russ

…So goes the budget fiasco in Sacramento. Nothing’s changed at all. Democrats don’t want to cut programs and Republicans don’t want to add new taxes. Governor Schwarzenegger now estimates the deficit at over $14 billion, and that the state could … Continue reading →

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Global Cooling, California Style

Posted on December 14, 2008 by Russ

My friends know that I’m a skeptic on global warming. I don’t think that there’s proof today that anthropogenic (man-cause) global warming is a factor in the higher temperatures of recent years. Additionally, temperatures have fallen the last couple years. … Continue reading →

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New York 4, Indians 3

Posted on December 14, 2008 by Russ

In New York state there’s been a festering battle between state government and Indian tribes regarding cigarette sales. There were several developments last week. Judge Kenneth Fisher of the state Supreme Court (equivalent to a district court in California) ruled … Continue reading →

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2009 Required Distribution Relief

Posted on December 13, 2008 by Russ

Congress yesterday passed a law (and President Bush is expected to soon sign the law) which will give relief for Required Minimum Distributions (RMDs) in 2009. As Joe Kristan noted, this isn’t much relief. RMDs are required for tax deferred … Continue reading →

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China Goes Where No Man Has Gone Before

Posted on December 11, 2008 by Russ

Two years ago I wrote about the idea of taxing virtual transactions. As I mentioned then the IRS’ view on this is, “That’s so weird.” However, one country looked at this and decided that while it might be weird it’s … Continue reading →

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Rangel’s Troubles Worsen

Posted on December 9, 2008 by Russ

The tax troubles of Congressman Charles Rangel (D-NY), the chair of the House Ways and Means Committee (the committee that writes tax legislation), have worsened. The House Ethics Committee had already been looking into his property tax troubles; the committee … Continue reading →

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Property Tax Payment Due on Wednesday

Posted on December 7, 2008 by Russ

If you’re a Californian who owns real estate, remember that your first property tax payment is due this Wednesday, December 10th. The payment can be made at your county’s tax collector office, by mail (US postmark deadline of Wednesday), or … Continue reading →

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When Cash Isn’t King

Posted on December 7, 2008 by Russ

I’ve heard many times that cash is king. Well, that’s not always the case as Leroy Felt, Jr. discovered. Mr. Felt was the owner of Woody’s Construction in Margate, Florida. He decided to pay his employees in cash. That’s absolutely … Continue reading →

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Ishtar Comes to Sacramento

Posted on December 7, 2008 by Russ

Do you remember Ishtar? It was one of Hollywood’s bigger flops. The Wall Street Journal is now comparing Governor Schwarzenegger’s budget policies to that failed film. Is the Journal correct? Absolutely. Governor Schwarzenegger is proposing raising the sales tax (which … Continue reading →

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