Author Archives: Russ

Taxes Under a President Obama

Posted on October 5, 2008 by Russ

This is the first of a three part series looking at what taxes might be under our new President. This series starts by looking at what might happen under a President Obama. Next week I’ll examine John McCain’s plans. In … Continue reading →

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Bail Out

Posted on October 3, 2008 by Russ

The bailout bill passed Congress today and was signed into law by President Bush this afternoon. I’m of mixed opinion on the bailout portion of the bill. But I’m thrilled about one part of the bill—this year’s AMT (Alternative Minimum … Continue reading →

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Minnesota Calling

Posted on October 2, 2008 by Russ

Apparently this blog has a wider circulation than I thought. Today I received an email from Tom Teale, the Assistant Director, Criminal Investigations of the Minnesota Department of Revenue (the state tax agency in Minnesota). While I generally focus (when … Continue reading →

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Racing to ClubFed

Posted on October 2, 2008 by Russ

There are some things that just must be seen in person at least once. I think that one of those is the Indianapolis 500. It’s called the greatest spectacle in auto racing for good measure. If you get the chance … Continue reading →

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They Should Have Known Better

Posted on September 28, 2008 by Russ

This week’s tax evasion stories share a common theme: the alleged evaders (and those convicted) should have known better. Let’s start in Sin City, where a personal injury attorney liked cash as a way to conduct his business. There’s nothing … Continue reading →

Posted in Payroll Taxes, Tax Evasion | 1 Comment

Business Deductions Don’t Include Prostitution

Posted on September 20, 2008 by Russ

It’s something about prostitution that somehow leads to tax evasion. While perusing my email this evening in Connecticut I noticed yet another guilty plea by a man who charged personal expenses on his corporate tax return. Somehow the IRS did … Continue reading →

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California Has a Budget

Posted on September 20, 2008 by Russ

Governor Schwarzenegger said he will sign the revised budget bill passed by the Legislature yesterday. I’ll have details on the impact to Californians when I return from Connecticut on Tuesday.

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Budget Deal Reached…Again

Posted on September 19, 2008 by Russ

Reports out of Sacramento are that the Big Five (Governor Schwarzenegger and the Republican and Democratic leaders of the Legislature) have reached another budget deal; this deal will include all of Governor Schwarzenegger’s budget fixes. I can’t find anything on … Continue reading →

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Olenicoff Sues UBS

Posted on September 18, 2008 by Russ

Orange County Billionaire Igor Olenicoff sued UBS, the Swiss Banking Giant, alleging that they conned him into breaking US Tax Laws. Mr. Olenicoff is alleging that when a giant company tells you that they will obey the law everything just … Continue reading →

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The Financial Mess

Posted on September 18, 2008 by Russ

Joe Kristan has an excellent post noting what some of the root causes of the financial mess are. He quotes and links from the Tax Policy Blog; bluntly, a lot of the blame falls on political schemes done in the … Continue reading →

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