Author Archives: Russ

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 →

Posted in Payroll Taxes | Comments Off on Now He Gets to Watch Paint Dry

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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eFile an FBAR? Use Internet Explorer, Not Firefox or Chrome

Posted on June 28, 2012 by Russ

Some of my clients have had problems efiling the FBAR on the BSA system. The FINCEN support group have confirmed that the system works only using Internet Explorer. So if you need to file an FBAR, use Internet Explorer, not … Continue reading →

Posted in International | Tagged | 1 Comment

IRS Announces New Procedure on RRSPs; Jaywalkers Apparently No Longer Subject to Firing Squad

Posted on June 27, 2012 by Russ

The IRS announced yesterday a new procedure to deal with “low compliance risk” taxpayers who have innocently not filed FBARs or tax returns noting their RRSPs (a Canadian retirement account similar to a 401(k) or IRA). While the full details … Continue reading →

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Can Online Gambling Help Solve State Debt Woes?

Posted on June 25, 2012 by Russ

That’s the question this FoxBusiness report asks. (I am quoted in the story.) Of course, convincing politicians that enacting something that the public actually wants and that brings in tax revenues that the public wants to pay should be a … Continue reading →

Posted in Gambling | Tagged | Comments Off on Can Online Gambling Help Solve State Debt Woes?