Author Archives: Russ

Sales Tax on Hot Chocolate

Posted on May 13, 2008 by Russ

One of my favorite weekly reads is the Leonard Letter. Bill Leonard is one of the elected members of the Board of Equalization. Mr. Leonard notes, “Late last year an article entitled “Why Is Buying Hot Chocolate So Confusing?”appeared in … Continue reading →

Posted in California, Sales Tax | Comments Off on Sales Tax on Hot Chocolate

Vallejo Bankrupt

Posted on May 8, 2008 by Russ

The city of Vallejo, in Northern California, will declare bankruptcy sometime in the next few days. Why? Vallejo has a declining industrial base. That’s not a surprise—all of California has that problem. Companies that can move do (or don’t add … Continue reading →

Posted in California | Comments Off on Vallejo Bankrupt

Heading to Chicago

Posted on May 6, 2008 by Russ

I’m heading to Chicago for the next week, including Friday’s game at Wrigley Field. I’ll apparently need my long-sleeve shirts as the temperature is supposed to drop 30 F over the next two days. In any case, posting will be … Continue reading →

Posted in Taxable Talk | Comments Off on Heading to Chicago

Snipes Files Notice of Appeal

Posted on May 6, 2008 by Russ

As promised, Wesley Snipes’ attorneys have filed a notice that they intend to appeal Snipes’ conviction and sentencing to the 11th Circuit Court of Appeals. The notice doesn’t specify what arguments they plan on using. The actual appeal will be … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Snipes Files Notice of Appeal

LA Times: Let’s Tax Our Way Out

Posted on May 6, 2008 by Russ

The Los Angeles Times today editorializes that the way for California to escape the budget crisis is to tax services: “Lawmakers cannot act in a fit of panic, but the scope of this year’s challenge should encourage new solutions, including … Continue reading →

Posted in California | Comments Off on LA Times: Let’s Tax Our Way Out

Loss of Income Insurance Leads to Evasion

Posted on May 4, 2008 by Russ

Buddy’s Carpet & Flooring is a Cincinnati-based chain of carpet stores. Its owners in the late 1990s devised a method of saving on their taxes—they purchased eight “loss of income” life insurance policies for $3.6 million. Those policies led to … Continue reading →

Posted in Tax Fraud | Comments Off on Loss of Income Insurance Leads to Evasion

One CA LLC Fee Case Resolved; Two to Go

Posted on May 4, 2008 by Russ

The Franchise Tax Board will now begin to send out some refunds on LLC Fees paid. These fees have been challenged in three court cases. Two of these cases are still in litigation. The one case that’s been resolved is … Continue reading →

Posted in California | Comments Off on One CA LLC Fee Case Resolved; Two to Go

The List

Posted on May 4, 2008 by Russ

The Franchise Tax Board has posted its six month revision of its 250 biggest scofflaws. The largest debtors from October are gone, and a new name leads the list: Pinehill Investment of Rye, New York owes the FTB $6.133 million. … Continue reading →

Posted in California | Comments Off on The List

Shaolin Grand Master

Posted on May 1, 2008 by Russ

There are at least two movies called “Grand Master of Shaolin Kung Fu.” I haven’t seen either. But there is a Shaolin Grand Master who is in tax trouble. Qin Xiping is accused by the Tokyo Regional Taxation Bureau of … Continue reading →

Posted in Tax Evasion | Comments Off on Shaolin Grand Master

Franken’s Tax Troubles Continue

Posted on April 29, 2008 by Russ

Al Franken, the likely Democrat-Farm Labor candidate for U.S. Senate in Minnesota, told the Minneapolis Star-Tribune that he has paid over $70,000 in back taxes to 17 states. That’s not just California, but includes Delaware, Kentucky, Massachusetts, Michigan, New York, … Continue reading →

Posted in Minnesota | Comments Off on Franken’s Tax Troubles Continue