Author Archives: Russ

Ohio Adds Gambling Loss Deduction…In 2013

Posted on July 14, 2010 by Russ

The Ohio legislature recently passed HB 519. The measure creates the Ohio Casino Commission to run Ohio’s soon-to-exist casinos. There’s a bit of good news for Ohioans buried in the measure. Beginning with tax year 2013, Ohio residents will be … Continue reading →

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The Not So Great Park

Posted on July 11, 2010 by Russ

I live in Irvine, a relatively affluent community in Orange County, California. The city boast a large network of parks; back in 2002, the Great Park plan was approved by Orange County voters. To date, the park’s Board has spent … Continue reading →

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Companions to ClubFed

Posted on July 11, 2010 by Russ

After a hectic Sunday, there’s nothing like that old standby, the Escort Service, to lighten an evening. I reported on Companions earlier this year. The owners of this Salt Lake City club did quite well but somehow forgot to report … Continue reading →

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Must a Practitioner Audit a Client’s Financials?

Posted on July 6, 2010 by Russ

The IRS today released IR-2010-82 noting the disbarment of CPA Tim Kaskey for, “finding, among other things, that Kaskey failed to exercise due diligence in preparing tax returns for a corporation and its husband and wife shareholders.” Here’s the key … Continue reading →

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Another Untrustworthy Trust Promoter Finds ClubFed

Posted on July 5, 2010 by Russ

I, like many individuals and families, have a revocable living trust. It’s useful for avoiding probate if something should happen to me. There are many other kinds of useful trusts, too. Of course, if there are useful trusts, there are … Continue reading →

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The Ending Was the Denemout of a Novel, Too

Posted on July 5, 2010 by Russ

Two months ago I wrote about the trial of Columbus homebuilder Thomas Parenteau. Mr. Parenteau was accused of 13 counts of fraud, money laundering, obstruction, and witness tampering. The jury reached a verdict last week and Mr. Parenteau did receive … Continue reading →

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FBAR Deadline Is Today

Posted on June 30, 2010 by Russ

Almost all tax deadlines are on the fifteenth day of the month. However, there’s one that falls on June 30th: The filing deadline for the Report of Foreign Bank and Financial Accounts (FBAR, Form TD F 90-22.1). This is the … Continue reading →

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A Method to the Evasion

Posted on June 29, 2010 by Russ

I am not into hip hop music. I had never heard of the individual mentioned below. But “Method Man” is apparently really, really big, so on we go. Clifford Smith, aka Method Man, is just your typical hip hop artist. … Continue reading →

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California Heading to the Abyss

Posted on June 22, 2010 by Russ

Usually, the Democrats and the Republicans in the California legislature at least realize the problems that exist with the budget. In past years, the Democrats will propose raising all sorts of taxes knowing they’ll only get a little of what … Continue reading →

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Posting Light This Week

Posted on June 21, 2010 by Russ

I’m traveling this week (to Las Vegas and Rohnert Park, California) so posting will be light this week. If Congress does take action on the S-Corp tax increase I’ll definitely be posting about that.

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