Author Archives: Russ

The Who Needs Small Tax Practices Act

Posted on May 27, 2010 by Russ

Call me bitter, but I’m unhappy with the new Extenders legislation. While it would extend several tax breaks, it would deal a blow to many entrepreneurs–myself included. My practice is set up as an S Corporation. A 5% (or greater) … Continue reading →

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California Election: Proposition 13

Posted on May 24, 2010 by Russ

Here’s the first of our series on the June 2010 propositions on the California ballot. What?! Proposition 13 is on the ballot?! It’s not that Proposition 13. This Proposition 13 actually does impact property tax, but it has no opposition. … Continue reading →

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That Individual Looking to Buy Your Business Might Be an Undercover IRS Agent

Posted on May 23, 2010 by Russ

I was at the annual SuperSeminar a couple of weeks ago. Bob McKenzie, one of the presenters, mentioned that the IRS has found that sending undercover agents to businesses that are for sale has been a very useful strategy. Mr. … Continue reading →

Posted in Tax Fraud | 1 Comment

Straight From the Pages of a Cheap Novel

Posted on May 23, 2010 by Russ

Take one man, his wife, and his mistress, throw in a 30,000 square foot mansion, add a dose of federal charges (bank and wire fraud, tax conspiracy, money laundering, witness tampering, and obstruction of justice) and you get the latest … Continue reading →

Posted in Ohio, Tax Evasion | Tagged | 1 Comment

Monaco or Denmark: A 16 Million Kroner Difference

Posted on May 23, 2010 by Russ

People do relocate because of taxes. I’ve represented individuals during residency audits, and when they really have relocated they’re fairly simple. However, when the individual has relocated in name only, it’s quite another story. Such is apparently the case for … Continue reading →

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If You Fail Twice, The Third Time Isn’t the Charm

Posted on May 18, 2010 by Russ

Some people just don’t have good luck. Charlie Brown kept trying to hit that pitch…but just kept striking out. So it goes for an unlucky couple from California. The wife gets seriously injured when she’s truck by a shopping cart. … Continue reading →

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Poker Player Blames His Accountant for His Tax Troubles

Posted on May 16, 2010 by Russ

Michael “The Grinder” Mizrachi is a well known tournament poker player. The Florida resident has nearly $7 million in career earnings. He also has tax troubles. Mr. Mizrachi had a nearly $340,000 tax lien slapped on him. A condominium he … Continue reading →

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Leggoland, Tae Bo and Tax Evasion

Posted on May 16, 2010 by Russ

Salinas Valley Engineering used to be a successful company dealing in agricultural equipment. Curtis Parry was the sole stockholder from 1977 to 2003. And then trouble came. Mr. Parry wanted to increase his income without paying taxes. So beginning in … Continue reading →

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The Abyss Beckons

Posted on May 16, 2010 by Russ

The immovable object and the unstoppable force need to get ready: California’s annual budget woes are heating up. The Bronze Golden State is facing a $19 billion deficit, and Governor Schwarzenegger has proposed a new budget that has no chance … Continue reading →

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Traficant Running

Posted on May 13, 2010 by Russ

My friend Scott reminded me that I should let everyone know that Jim Traficant has thrown his hat in the ring. He’s running as an independent in Ohio’s 17th Congressional District. Tim Ryan, a Democrat, currently is the Congressman in … Continue reading →

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