Author Archives: Russ

Club Fed Is the Rule for Ja Rule

Posted on July 19, 2011 by Russ

Back in March I reported on rapper Jeffrey Atkins (aka Ja Rule). He decided that it was a good idea if his after tax income was the same as his before tax income. Given that the tax loss to the … Continue reading →

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Illinois Increased Taxes But Is Still Broke

Posted on July 18, 2011 by Russ

You are insolvent when the money you owe (your liabilities) are more than the money you have (your assets). Illinois has been in desperate financial trouble for some time; this won’t be news to readers of this blog. Earlier this … Continue reading →

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I Hope You Enjoyed that $2.4 Million

Posted on July 18, 2011 by Russ

I’ve said this before, and I’m certain I’ll say it again: If you want to get in trouble with the IRS, the fastest way to do so is to not remit your federal employment taxes. These are called trust fund … Continue reading →

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New York $1.2 Million, Indians 0

Posted on July 18, 2011 by Russ

I may be a baseball fan, but this post has nothing to do with the Cleveland Indians. Rather, here’s the latest chapter in New York’s war against Indian tribes selling cigarettes. In June, a New York Appellate Court lifted an … Continue reading →

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IRS Philadelpia Service Center Has Moved

Posted on July 14, 2011 by Russ

In a phone call today with the Taxpayer Advocate in Philadelphia, I learned that the IRS Service Center in Philadelphia moved, with the final personnel moving into the “new” office in January. The new address is: Internal Revenue Service 2970 … Continue reading →

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Only in California: $440.5 Million in Extra Revenue Is $350 Million Short

Posted on July 13, 2011 by Russ

Here in the Bronze Golden State, the state income numbers for June have just come in. Collections came in better than forecast by $440.5 Million. That seems good, but it’s not quite good enough to meet California’s budget. That budget … Continue reading →

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Two Baltimore Bail Bondsmen Found Taxes to be the Least of Their Problems

Posted on July 11, 2011 by Russ

Many businesses require licenses. In Maryland, you need a license to be a bail bondsmen (I suspect you do in most states). One of the rules in Maryland is that you can’t be a convicted felon if you’re a bail … Continue reading →

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Denver Madam Pleads Guilty

Posted on July 11, 2011 by Russ

Late last year, I reported on Brenda Stewart. Ms. Stewart owned Denver Sugar and Denver Players, a prostitution ring that, per the Denver Post, catered to the high-end of Denver society. The problem for Ms. Stewart wasn’t the call-girl ring; … Continue reading →

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Hawaii Tries for #1

Posted on July 11, 2011 by Russ

What state has the highest individual income tax rate in the United States? No, it’s not California. Sorry, New York isn’t the place either. Oregon just misses out on the top spot. It’s Hawaii. And Hawaii is adding to the … Continue reading →

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When Your Computer Takes the Day Off

Posted on July 11, 2011 by Russ

Last Sunday, my computer decided that it wanted to take a vacation. Now, I believe there’s a religion where mechanical devices have souls (Shintoism?), but I don’t believe that. But try as I might my computer had enough of me. … Continue reading →

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