Author Archives: Russ

A Golden Evasion

Posted on August 16, 2009 by Russ

You are allowed to pay your employees in cash. But if you do that you still must withhold (and pay) your Trust Fund (payroll) taxes. One enterprising individual came up with the idea of paying employees in gold and silver … Continue reading →

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A Ponzi Gamble

Posted on August 16, 2009 by Russ

Jeffery Tuggle, of Lynchburg, Virginia, promised investors returns of between 30 and 40 percent. That in itself should have been a warning to investors. But it apparently wasn’t. Supposedly the money came from paying attorney’s clients their settlement monies early; … Continue reading →

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What’s $200 Billion Among Friends

Posted on August 16, 2009 by Russ

California has a budget. Unfortunately, there’s a probable deficit of around $8 billion. A State Assemblyman, Juan Arambula, wondered what the total liabilities of the state are. So he wrote the Legislative Analysts Office. Their response: $200 Billion. The Legislative … Continue reading →

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Tax Fraud Night at the Local Ballpark

Posted on August 12, 2009 by Russ

Minor league baseball teams have all sorts of promotions. Back in June I went to a Las Vegas 51s game on $1 beer night. On that night, the 51s drew a good-sized crowd. Of course, some promotions aren’t so successful. … Continue reading →

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A Statute of Basis

Posted on August 11, 2009 by Russ

An interesting Tax Court decision came down today in the case of Beard v. Commissioner. The taxpayer sells a business and correctly notes the gross income. However, he may have made a major error in calculating his basis (generally, the … Continue reading →

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Not Taking No for an Answer

Posted on August 9, 2009 by Russ

No means no. Well, to most of us it does. But not so for Jean Marie Boursiquot, recently of Deltona, Florida but soon to be residing at ClubFed. Mr. Boursiquot was a professional tax preparer (part of the Bozo wing … Continue reading →

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Pressed for Time No More

Posted on August 9, 2009 by Russ

Earlier this year I wrote about Dentist Alan Vance of Charleston, West Virginia. Dr. Vance wanted a swimming pool. Nothing wrong with that idea; however, his method left out a necessary step. He took cash payments from his dentistry practice … Continue reading →

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Another Battle in the Spanish-American War?

Posted on August 9, 2009 by Russ

Remember the Maine? That was the battle cry for the Spanish-American War. That war was fought in 1898 and was funded by an excise tax on a then luxury, telephone service. Move forward 90 years. The excise tax was still … Continue reading →

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Las Vegas 2, Sacramento 0

Posted on August 9, 2009 by Russ

The Nevada Development Authority is Southern Nevada’s government agency that attempts to draw new businesses to the Las Vegas area. They’ve got a new campaign aimed at California. Why? Well, the California Legislature is making the NDA’s job easy. Here’s … Continue reading →

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Catching Up on the Past

Posted on August 6, 2009 by Russ

We’ve got some catching up to do. A few miscreants that we reported on have recently reappeared in the news, so here goes. First, our 2008 Tax Offender of the Year, Robert Beale, had his appeal heard earlier this year. … Continue reading →

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