Monthly Archives: November 2010

The Light at the End of the Tunnel Is the Oncoming Train

Posted on November 30, 2010 by Russ

The headline is apropos for the 111th Congress which likely won’t act on much of the budget, the extension of the Bush Tax Cuts, or the Estate Tax before the 111th Congress mercifully fades into oblivion. It will be difficult … Continue reading →

Posted in California | 1 Comment

High Fashion or Really Big Tax Evasion?

Posted on November 29, 2010 by Russ

I’m not a fashion snob. But even I have heard of Dolce and Gabbana, the Italian fashion powerhouse. So the news that Dolce and Gabbana are accused of evading income tax on €1 Billion of income ($1.324 Billion) should be … Continue reading →

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Wesley Snipes to Appeal to Supreme Court; Wants Bail

Posted on November 29, 2010 by Russ

According to the BBC, actor Wesley Snipes has requested bail to be continued pending a further appeal of his convictions for income tax evasion. Judge William Terrell Hodges gave the Department of Justice until Tuesday to respond to Mr. Snipes’ … Continue reading →

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Paul Hogan Cleared of Criminal Tax Evasion

Posted on November 29, 2010 by Russ

The Australian Crime Commission announced last week that actor Paul Hogan (star of Crocodile Dundee) has been cleared of tax evasion charges. The ACC stated, On the material presently available to the ACC, including documents recently obtained as a result … Continue reading →

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Expect an AMT Patch…Eventually

Posted on November 29, 2010 by Russ

The 111th Congress will likely be remembered in history books for profligate spending and going against voters’ wishes. Sure, some of President Obama’s agenda was enacted (such as Obamacare), but most of it wasn’t wanted by voters. The public responded … Continue reading →

Posted in Legislation | 1 Comment

Rasmussen College Spotlights Tax and Accoungting Blogs (Including Us)

Posted on November 22, 2010 by Russ

Rasmussen College, with campuses in the upper Midwest and Florida, decided to spotlight twenty blogs for accounting students. Some of the blogs you’ll recognize: The TaxProf Blog and Don’t Mess With Taxes are two of the other tax blogs that … Continue reading →

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Denver “High-End” Madam Indicted on Tax Evasion Charges

Posted on November 22, 2010 by Russ

Somehow tax evasion goes hand-in-hand with strip clubs and escort services. And if the government is correct in its allegations, a Denver madam will soon have plenty of time at ClubFed to reflect on this. Brenda Stewart apparently owned Denver … Continue reading →

Posted in Colorado, Tax Evasion | Tagged | 1 Comment

Selling Software to Cheat the Government Out of Strip Clubs’ Taxes Isn’t a Bright Idea

Posted on November 22, 2010 by Russ

It’s one thing to sell accounting software such as QuickBooks. That product, when used properly, helps companies accurately report their income. Theodore Kramer sold a very different software product. His Journal Sales Remover made income magically vanish from a company’s … Continue reading →

Posted in Tax Evasion | Tagged | 1 Comment

Snipes Heading to ClubFed

Posted on November 22, 2010 by Russ

This evening as I was changing channels I briefly saw an infomercial hosted by Wesley Snipes. Well, Mr. Snipes doesn’t actually appear in the commercial. But in the new television show, Wesley Snipes spends three years at ClubFed, Mr. Snipes … Continue reading →

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Helping Boss, Wife, and His Mistress Leads to ClubFed, Not a Cheap Novel

Posted on November 22, 2010 by Russ

Dennis Sartain used to be the typical accountant. He worked for Thomas Parenteau, a Columbus, Ohio homebuilder. Of course, Mr. Parenteau was found guilty of 11 counts of tax evasion and related charges, and that’s not typical. And as I … Continue reading →

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