Author Archives: Russ

When Winning by 0.5% Is a Mandate

Posted on November 8, 2010 by Russ

Illinois is broke. While other states (such as California) have higher budget deficits, on a per capita basis Illinois leads the way. Illinois has a $13 billion deficit and some vendors haven’t been paid in nearly seven months. In last … Continue reading →

Posted in Illinois | 1 Comment

Wellek Pleads Guilty, Admits Tax Evasions

Posted on November 8, 2010 by Russ

In October I noted that Michael Wellek, the owner of three strip clubs in the Chicago area, would soon plead guilty to tax evasion. He did so last week. Mr. Wellek admitted he didn’t file a tax return for years … Continue reading →

Posted in Illinois, Tax Evasion, Uncategorized | Tagged | Comments Off on Wellek Pleads Guilty, Admits Tax Evasions

Kritt Wins One

Posted on November 8, 2010 by Russ

Earlier this year I reported on Attorney Ira Kritt, and that he has been charged in a tax fraud case in South Dakota. I had noted that Mr. Kritt had also been charged in a West Virginia case. Mr. Kritt, … Continue reading →

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Daylight Savings Time Ends

Posted on November 6, 2010 by Russ

It’s time to turn your clocks back an hour. Late tonight (2 am), clocks will be reset to end daylight savings time and return to standard time. So enjoy your extra hour of sleep.

Posted in Taxable Talk | 1 Comment

If I Win a Free Trip to the Bahamas, Do I Have to Pay Tax On It?

Posted on November 5, 2010 by Russ

About ten days ago, I noticed that a poker website was running a contest. Submit a fun poker game that can be run as a poker tournament; if your game is chosen we’ll send you the Bahamas. There were over … Continue reading →

Posted in Gambling, Taxable Talk | Tagged | 1 Comment

We Want It All But Don’t Tax Us To Get It

Posted on November 3, 2010 by Russ

Californians demonstrated their usual inimitable politics yesterday. Democrats won nearly every statewide office. The next Governor is Jerry Brown. Mr. Brown promised that there would be no tax increases without a vote of the people. (Barbara Boxer was reelected to … Continue reading →

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We Won’t Have Jim Traficant to Kick Around

Posted on November 3, 2010 by Russ

Well, Election Day has come and gone. Congressional races generally went to Republicans, and the GOP will be the majority party in the House next January. That means that John Boehner of Ohio will be the next Speaker. Mr. Boehner … Continue reading →

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You Will eFile in New York

Posted on October 31, 2010 by Russ

I have a few clients in New York (about 20). I have one client who strongly dislikes efiling. It appears he won’t have a choice for his 2010 tax return if I prepare his return. New York has implemented mandatory … Continue reading →

Posted in New York | 7 Comments

Taxes Are For The Other Party

Posted on October 30, 2010 by Russ

The Democratic National Committee has a private club (the National Democratic Club) in Washington, DC. I guess that’s not surprising–with so many politicians in Washington, a club makes sense. But even political parties (and their clubs) must pay their taxes. … Continue reading →

Posted in Property Taxes | 1 Comment

Proposition 26: Fees Require 2/3 Vote

Posted on October 29, 2010 by Russ

Proposition 26 on the California ballot would require many state and local fees to be approved by a 2/3 vote. Proponents of the measure argue that there are numerous hidden fees (taxes, in their view) that have been approved by … Continue reading →

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