Monthly Archives: July 2012

The Tax War Against Medical Marijuana

Posted on July 15, 2012 by Russ

Think what you may about medical marijuana (legal in about 17 states), there is a certainty for federal income tax purposes: Marijuana is a Class I narcotic so deducting expenses on a tax return for a marijuana dispensary is a … Continue reading →

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In the Battle Between the Board of Equalization and the Humble Taco Truck…

Posted on July 15, 2012 by Russ

Entrepreneurs look for niches: Opportunities that aren’t being served well by current businesses. Enter the humble taco truck. These food kitchens on wheels tend to serve business workers looking for a quick and reasonably priced meal. I saw them daily … Continue reading →

Posted in California, Sales Tax | Tagged | 1 Comment

Did a Maryland Tax Increase Cause Taxpayers to Flee the State?

Posted on July 9, 2012 by Russ

An organization called ChangeMaryland has a new study that states that 31,000 individuals left the state from 2007 to 2010. ChangeMaryland believes that it’s the tax hikes in the state that have caused the exodus. Maryland is a decidedly liberal … Continue reading →

Posted in California, Maryland | 2 Comments

If Only He Had Driven a Yugo Instead of a Ferrari

Posted on July 8, 2012 by Russ

Sometimes it’s best to be inconspicuous. That’s definitely the case if you’re doing something that’s illegal. From Bergamo, Italy comes the story of an unidentified Italian man who loved his Ferrari F131. Even in Italy that’s a car that will … Continue reading →

Posted in International, Tax Evasion | 2 Comments

When an Agent’s Fees Are Not Deductible

Posted on July 5, 2012 by Russ

Suppose you are a professional athlete and you hire a sports agent to negotiate with you. Those fees are, in the United States, generally deductible as an “ordinary and necessary” business expense. However, the same is not true in Canada. … Continue reading →

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It’s a Tax: What ObamaCare Means for You

Posted on July 1, 2012 by Russ

Unless you were shipwrecked on a deserted island you know that the Supreme Court ruled that the Affordable Care Act, aka ObamaCare, is a legal “tax.” Back in February 2010 I wrote about the taxes in ObamaCare. Let’s run down … Continue reading →

Posted in Legislation | Tagged | 2 Comments

Lauryn Hill Pleads Guilty to Tax Evasion Charges

Posted on July 1, 2012 by Russ

Yet another music star has tax troubles. Singer Lauryn Hill pleaded guilty to failing to file tax returns on more than $1.5 million she had earned from 2005 through 2007. Ms. Hill’s attorney indicated that she plans on paying the … Continue reading →

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Now He Gets to Watch Paint Dry

Posted on July 1, 2012 by Russ

Willard Douglas Kerr of Phoenix operated DK Coatings, LLC, a painting and wall covering company in Manassas, Virginia. Mr. Kerr had many employees, and the business was apparently successful. Mr. Kerr also had some pressing needs at home. He needed … Continue reading →

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Jerry Brown Dreams of a Tax Increase and Other California Tidbits

Posted on July 1, 2012 by Russ

Quite a few things to report on from the Bronze Golden State. First, the budget was signed by Governor Jerry Brown. The budget only “works” if voters approve the new taxes he proposed and that will be on the November … Continue reading →

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