Author Archives: Russ

Deja Vu All Over Again for Strip Club Owner

When I last wrote about former strip club owner Jon Adams, he had been convicted of two counts of tax evasion. Mr. Adams received eighteen months at ClubFed. One of the two counts was later thrown out by an Appeals … Continue reading

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Proposition 1B: Education Funding Plan

At least the title isn’t deceiving. And that’s about the only good thing to say about this measure. The impartial analysis by the Legislative Analyst notes, “Because there is uncertainty over how the Constitution would be interpreted in its current … Continue reading

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But Did They Remember the 46th Quarter?

The Pruzan Law Firm began in 1938 in Brooklyn, New York. That’s about the only thing you’ll find on their web page. Even that may be a thing of the past soon. The Department of Justice has filed a lawsuit … Continue reading

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Proposition 1C: Lottery “Modernization”

If any of the ballot initiatives pass this month—and that’s not likely—expect lawsuits challenging the wording of the initiatives. The language used is supposed to be non-partisan, neutral, and to accurately represent the matter being voted on. By far the … Continue reading

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Foreign Account Amnesty

Given my practice area, I’m very familiar with Form TD F 90-22.1. That’s the form you use for reporting foreign financial and bank accounts to the Treasury and the IRS. There are severe penalties if you don’t file this form … Continue reading

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Those Painful Decisions Will Be Coming

The Legislative Analyst’s Office reported today that California’s budget deficit could balloon to $23 billion if Propositions 1A-1E fail at the ballot box. Even if they pass, the deficit could rise to $17 billion. I’ll keep repeating what I’ve said … Continue reading

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Proposition 1D: Using the Children’s Services Funds

Like Proposition 1E, Proposition 1D taps a “protected” source of funding to help balance the budget. If Proposition 1D passes, $610 million will be taken from the Children’s Services Funds (a $0.50 tax on tobacco products) in 2009-2010 and $268 … Continue reading

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Proposition 1E: Using the Mental Health Services Tax

A few years ago, California voters passed the Mental Health Services Tax. That tax is a 1% surtax on those making $1 million or more. Come February 2009 the Legislature looked at how to balance California’s budget. Why not use … Continue reading

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2007 Tax Offender of the Year to be Released on Sunday

Gene Haas won the coveted Tax Offender of the Year award for 2007. As I’ve detailed Mr. Haas lost a patent lawsuit and decided to get back at the government by committing tax fraud. He was sentenced to 24 months … Continue reading

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Proposition 1F

I start the look at California’s ballot initiatives (the election is two weeks from today) with the last proposition on the ballot, Proposition 1F. I’ve decided to work backwards on these measures, from the least impactful to the most. Proposition … Continue reading

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