Monthly Archives: August 2011

Just Make a Check Out to “Bureau of Public Debt”

Posted on August 16, 2011 by Russ

Warren Buffet penned an op-ed piece where he said the wealthy should pay more tax. The Tax Foundation, imho, opinion gets it right where Mr. Buffet gets it wrong. Rather than repeat what the Tax Foundation wrote, I’d like to … Continue reading →

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Impersonating a CPA and Miscounting His Bankruptcies Lead to Five Years

Posted on August 15, 2011 by Russ

Nick Holquin, Jr. was a tax preparer in San Jose. He decided to invest in a Mississippi land development project. When the economy tanked, the project did, too. Mr. Holquin was able to get twelve individuals to loan him money … Continue reading →

Posted in Tax Fraud | 1 Comment

Cost of Government Day

Posted on August 15, 2011 by Russ

Americans for Tax Reform released their study on “Cost of Government Day.” This study looks at for an average individual in each state, how long you are working for the Government rather than yourself. On average, you’re working for the … Continue reading →

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Perhaps $1 Million a Rider

Posted on August 15, 2011 by Russ

How many individuals want to ride high-speed rail through California’s Central Valley? That’s not an academic question, as that will be the first leg of the line built by the California High-Speed Authority. The line will run from Shafter (population … Continue reading →

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California Revenues Below Expectations; State Likely Looking at a $5 Billion Deficit

Posted on August 11, 2011 by Russ

I’m shocked, just shocked to find out that the Bronze Golden State is already falling behind on collections. That was sarcasm, of course. In June, California collections were $350 million below the budgeted amount. In July, they were $539 million … Continue reading →

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$89,000 or $5.79

Posted on August 10, 2011 by Russ

While on vacation I spoke with a good friend of mine from Illinois. A couple of years ago his firm had a sales tax issue with the Illinois Department of Revenue. The Illinois DOR accused his firm of not paying … Continue reading →

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You Can’t Take It With You When You’ve Already Given It Away

Posted on August 10, 2011 by Russ

If I give my brother $100, do I still have that $100? Of course not: My brother has that. The same holds true for any gift I give him; that property is now his and I have to live with … Continue reading →

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No Longer a Bully, Now a Tax Evader

Posted on August 10, 2011 by Russ

As I’ve said before, I’m not a fan of rap. My best friend considers my musical taste to be quite boring. That said, we both pay our taxes. It appears that rappers are having problems remembering to do this. Beanie … Continue reading →

Posted in Tax Evasion | 1 Comment

While I Was Out…

Posted on August 10, 2011 by Russ

…Nothing much happened, right? (I’m ignoring that AAA/AA+ thing, of course.) The IRS announced that Form 8939 for estates for 2010 will be due on November 15th. However, the form has yet to be released. Joe Kristan noted that the … Continue reading →

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