Monthly Archives: September 2014

Cash & Carry

Posted on September 10, 2014 by Russ

Myong Ho Pak is the owner of Yama Sushi restaurant here in Las Vegas. The restaurant is popular and has done quite well; it features all you can eat sushi. It may have done a bit worse on its 2008 … Continue reading →

Posted in Las Vegas, Tax Evasion | 1 Comment

New Jersey Tries Hail Mary on Sports Betting; Will IRS Intercept?

Posted on September 9, 2014 by Russ

Yesterday, Governor Chris Christie of New Jersey announced that New Jersey would not prosecute any casino or race track that offered sports betting. This is in spite of a federal court ruling that New Jersey’s sports betting law was unconstitutional. … Continue reading →

Posted in Gambling, New Jersey | 1 Comment

Lies, Deceit, and Nefarious Schemes

Posted on September 7, 2014 by Russ

As a poker player, I know there’s a time to lie. As a tax professional, I know that time is not while preparing your tax return or advising others on taxes. These individuals learned that the hard way. First, we … Continue reading →

Posted in Tax Evasion | 1 Comment

Another Friday: More IRS Revelations

Posted on September 7, 2014 by Russ

Shock of shocks, another Friday and we get more revelations on the IRS Scandal. Of course, if one believes the IRS and the Obama Administration, Lt. Frank Drebin had it right: Let’s get to the updates: First, the IRS announced … Continue reading →

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Ohio Small Business Owners Get a Break

Posted on September 7, 2014 by Russ

There’s a new tax deduction in Ohio that gives small business up to a 50% tax deduction on their state income taxes. This includes sole proprietorships, partnerships (and LLCs taxed as partnerships), and S-Corporations. The deduction is taken on Form … Continue reading →

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$1.25 Billion Attracts Tesla to Nevada

Posted on September 4, 2014 by Russ

As you likely heard, Tesla will be building its new “Gigafactory” at a site in Storey County near Reno in northern Nevada. What attracted Tesla to Reno? About $1.25 billion. Tesla get a 100% sales tax abatement for 20 years … Continue reading →

Posted in Nevada | Tagged | 1 Comment

IRS Won’t Say Why It Erased Lois Lerner’s Blackberry

Posted on September 4, 2014 by Russ

Let’s assume you’re under a court order to find some emails. Your hard drive crashed, but you think that some of them are saved on your Blackberry. Would you: (a) Try to find them on the Blackberry, (b) Do nothing, … Continue reading →

Posted in IRS | Tagged | 2 Comments

This Won’t Help Confidence in the IRS

Posted on September 3, 2014 by Russ

From South Florida comes a story of one IRS employee who allegedly liked to help taxpayers…just in the wrong way. Charles Corbitt worked for the IRS in West Palm Beach, Florida. He was charged with wire fraud today and is … Continue reading →

Posted in IRS, Tax Fraud | 1 Comment

Former US Attorney Forgets to File

Posted on September 1, 2014 by Russ

Back in the 1970s, Lawrence Semenza was the US Attorney for Nevada. In a 2007 article in the Las Vegas Review-Journal, Mr. Semenza commented about how different the job was back then. After Jimmy Carter was elected President, Mr. Semenza … Continue reading →

Posted in Nevada, Tax Evasion | Tagged | 1 Comment