Author Archives: Russ

German Court to Decide Whether Poker Is Taxable for a Professional

Posted on August 23, 2012 by Russ

In 2011, Pius Heinz of Germany won the main event of the World Series of Poker and a nice tax-free $8,715,638. Well, maybe it’s not tax-free. Via @Taxdood and @Taxnews1 comes word that a German court in Cologne will be … Continue reading →

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Sheer Stupdity in the Bronze State

Posted on August 22, 2012 by Russ

Sometimes I read a story and wonder if I’m reading actual news or something from The Onion. Such was the case this morning when I looked at an op-ed in the Wall Street Journal/ on Democrats’ plan to mandate a … Continue reading →

Posted in California | 1 Comment

Not Only Were the Employees Outsourced, The Taxes Went Away, Too

Posted on August 21, 2012 by Russ

From San Antonio comes word of a company that allegedly took care of small businesses’ taxes in a way that’s, well, arresting. John Bean apparently owned a professional employer organization named “Synergy Personnel.” Most PEOs become the actual employer and, … Continue reading →

Posted in Tax Fraud | 1 Comment

Shock! Moody’s Reviewing California Municipal Finances

Posted on August 19, 2012 by Russ

In what is not shocking to me but is apparently shocking to Democrats in Sacramento, Moody’s announced it will be performing a comprehensive review of California municipal finances. So far this year three California cities have declared bankruptcy: Stockton, Mammoth … Continue reading →

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Illinois Adopts Strip Club Tax

Posted on August 19, 2012 by Russ

Back in May I posted about Illinois’ proposed strip club tax. We can now remove ‘proposed’ as the tax was signed into law; the tax goes into effect on January 1st. The tax of $3 per patron will go to … Continue reading →

Posted in Illinois | Tagged | 1 Comment

“I Don’t Need Proof: Since I Worked for the IRS and am a CPA, You Should Just Accept my Deductions.”

Posted on August 16, 2012 by Russ

The title to this piece is not a literal quote…but it’s effectively what today’s petitioner told both the IRS and the Tax Court. Needless to say, that’s not a good strategy. Bobby Perry worked for the IRS for a few … Continue reading →

Posted in Tax Court | 2 Comments

“Uniquely American…Cooking the Books”

Posted on August 12, 2012 by Russ

From South Florida comes the tale of woe for David Cypress. Mr. Cypress is a former leader of the Seminole Tribe in South Florida. The Seminoles have a gambling palace in Hollywood, Florida: The Seminole Hard Rock Hotel & Casino. … Continue reading →

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What Raising Taxes Accomplishes

Posted on August 12, 2012 by Russ

I grew up just outside of Chicago in Lincolnwood, Illinois. Last year the Land of Lincoln passed a huge tax increase. Personal income taxes increased by 66% (from a 3% rate to 5%); the corporate tax rate was also dramatically … Continue reading →

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Accountant Who Solicited Hit Man Pleads Guilty

Posted on August 12, 2012 by Russ

Back in March I reported on Steven Martinez. Mr. Martinez is a tax preparer who faced charges of stealing $11 million from clients. He decided that the best strategy to fight this charge wasn’t hiring a good attorney, nor was … Continue reading →

Posted in Scams | Tagged , | 1 Comment

What a Drag

Posted on August 9, 2012 by Russ

A successful entrepreneur and life-long drag racing afficianado starts a drag racing business. The business isn’t profitable. The records, according to the entrepreneur, went down the drain when Hurricane Katrina destroyed their facility. The IRS alleges that the whole thing … Continue reading →

Posted in Tax Court | Tagged , | 1 Comment