Monthly Archives: July 2010

$50 Here, $50 There: $50 From Me and Every Other EA, CPA, and Tax Preparer

Posted on July 23, 2010 by Russ

I received an email yesterday from my local IRS liaison: IRS Issues Proposed Rules Setting Fee for Tax Preparers to Get Unique ID Numbers By Diane Freda The Internal Revenue Service July 21 issued proposed rules (REG-139343-08) establishing a new … Continue reading →

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WordPress 3, Russ 0

Posted on July 23, 2010 by Russ

A ton of stuff has happened over the past week…but I’ve been unable to post.  You see, WordPress “upgraded” to Version 3.0 and locked me out of the blog.  Now, that wasn’t supposed to happen but it did. Unplanned ‘vacations’ … Continue reading →

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Snipes Loses Appeal; ClubFed Is on the Horizon

Posted on July 16, 2010 by Russ

Remember Wesley Snipes? The actor was convicted of three misdemeanor tax charges but has been free on bail while waiting for the 11th Circuit Court of Appeals to decide his appeal. Bad news for Mr. Snipes: “After thorough review, we … Continue reading →

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Ohio Adds Gambling Loss Deduction…In 2013

Posted on July 14, 2010 by Russ

The Ohio legislature recently passed HB 519. The measure creates the Ohio Casino Commission to run Ohio’s soon-to-exist casinos. There’s a bit of good news for Ohioans buried in the measure. Beginning with tax year 2013, Ohio residents will be … Continue reading →

Posted in Gambling, Ohio | 2 Comments

The Not So Great Park

Posted on July 11, 2010 by Russ

I live in Irvine, a relatively affluent community in Orange County, California. The city boast a large network of parks; back in 2002, the Great Park plan was approved by Orange County voters. To date, the park’s Board has spent … Continue reading →

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Companions to ClubFed

Posted on July 11, 2010 by Russ

After a hectic Sunday, there’s nothing like that old standby, the Escort Service, to lighten an evening. I reported on Companions earlier this year. The owners of this Salt Lake City club did quite well but somehow forgot to report … Continue reading →

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Must a Practitioner Audit a Client’s Financials?

Posted on July 6, 2010 by Russ

The IRS today released IR-2010-82 noting the disbarment of CPA Tim Kaskey for, “finding, among other things, that Kaskey failed to exercise due diligence in preparing tax returns for a corporation and its husband and wife shareholders.” Here’s the key … Continue reading →

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Another Untrustworthy Trust Promoter Finds ClubFed

Posted on July 5, 2010 by Russ

I, like many individuals and families, have a revocable living trust. It’s useful for avoiding probate if something should happen to me. There are many other kinds of useful trusts, too. Of course, if there are useful trusts, there are … Continue reading →

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The Ending Was the Denemout of a Novel, Too

Posted on July 5, 2010 by Russ

Two months ago I wrote about the trial of Columbus homebuilder Thomas Parenteau. Mr. Parenteau was accused of 13 counts of fraud, money laundering, obstruction, and witness tampering. The jury reached a verdict last week and Mr. Parenteau did receive … Continue reading →

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