Monthly Archives: July 2009

Progress on the Budget?

Posted on July 14, 2009 by Russ

News reports indicate that some progress has been made on the California budget meltdown. That said, the headline notes that “the thorniest issues remain.” Meanwhile, the liberal Los Angeles Times continues with its attacks on Proposition 13. It’s just not … Continue reading →

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Mailbag Time

Posted on July 12, 2009 by Russ

Lots of questions have come in during the past few weeks. Here are a few that might interest you. 1. I recently settled a lawsuit for wrongful termination, and was awarded $100,000 after attorney fees of $50,000. How much of … Continue reading →

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IRS, UBS In Negotiations

Posted on July 12, 2009 by Russ

The Wall Street Journal is reporting that the IRS and Swiss bank UBS will jointly request a postponement of a court hearing on Monday in Miami. The Journal is also reporting that UBS and the IRS are “…deep in talks … Continue reading →

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California Budget Update

Posted on July 12, 2009 by Russ

Or perhaps this should be titled, no news isn’t good news. First, income tax collections were $1 billion under projections in June. That shouldn’t be a surprise to anyone; when people aren’t making as much money they don’t pay as … Continue reading →

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To Live and Tax in Los Angeles

Posted on July 12, 2009 by Russ

Many cities (and a few states) in the United States have business and professions taxes. The tax rate usually depends on what occupation you’re in. The taxes can be low, or high. I used to run West Coast operations for … Continue reading →

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Restating the Obvious

Posted on July 9, 2009 by Russ

I’ve been saying for some time that California has a bad business climate. The current budget battle is only making things worse. I’m not the only one whose come to this conclusion. The California Manufacturing and Technology Association (via The … Continue reading →

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Surprise, Suprise: Other States Looking to Take Businesses from California

Posted on July 9, 2009 by Russ

In what is anything but a surprise, other states are looking to grab businesses located in the Bronze Golden State. This story from the Sacramento Bee highlights activities of development agencies in Nevada and Colorado. Given the current economic difficulties, … Continue reading →

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When the Going Gets Tough, the Speaker Runs Away

Posted on July 7, 2009 by Russ

You’re the Speaker of the California Assembly. The state faces a $24 billion deficit, and is broke. The state has had to issue registered warrants (IOUs). The political leadership—the governor, the majority and minority leaders of the state senate, the … Continue reading →

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Red, White, and Blue Fraud for the Fourth

Posted on July 5, 2009 by Russ

I enjoyed the local fireworks show last night. The individuals mentioned below are involved in their own legal fireworks relating to tax evasion. First, if you really want to get into tax trouble, simply don’t remit your trust fund taxes … Continue reading →

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Cap and Tax

Posted on July 5, 2009 by Russ

Did you know that Congress is considering passing a tax increase? You hadn’t heard about that, right? Well, it’s not called a tax increase but it definitely is. This misguided legislation is called The American Clean Energy and Security Act … Continue reading →

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