Author Archives: Russ

Only The IRS Conducts Audits

Posted on November 19, 2007 by Russ

Wouldn’t it be nice if you could conduct an audit of that conniving guy or gal that you have to deal with? You’d make his or her life a total pain. Well, that’s just no doable. Only the IRS (and … Continue reading →

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Trucking, Gambling, or Both?

Posted on November 19, 2007 by Russ

Can a woman who owns and operates a trucking business also be considered a professional gambler? That’s what the Tax Court had to decide. Linda Myers operated a trucking business in the Twin Cities. The trucking business was substantial; there … Continue reading →

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Two Less Bozo Tax Preparers To Deal With

Posted on November 18, 2007 by Russ

Did you use Archie’s Tax and Accounting Service in Jamaica (Queens), New York? If you did, you’re likely to be getting a call from the IRS soon. The proprietors of Archie’s, Archie and Theodore Pugh, have been permanently barred from … Continue reading →

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Lots of Evasion to be Thankful For

Posted on November 18, 2007 by Russ

After all, Thanksgiving comes on Thursday, so we should thank these miscreants and alleged miscreants for helping make a blogger’s life easy. Let’s start in Manhattan. James Ortenzio used to be the chairman of the New York County (Manhattan) Republican … Continue reading →

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Snipes Sent Funds Overseas, Feds Allege

Posted on November 18, 2007 by Russ

The Department of Justice filed a motion this past week in Ocala, Florida accusing Wesley Snipes of using overseas bank accounts in Switzerland, the Isle of Man, and Antigua to hide his funds. They’ve also accused Snipes of “selling” a … Continue reading →

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$20 Billion Deficit for California?

Posted on November 18, 2007 by Russ

Last week I reported that California’s legislative analyst believed that the Bronze Golden State was looking at a $10 billion deficit. State Senator Tom McClintock (R-Thousand Oaks) thinks that’s wrong. Unfortunately, he thinks California is looking at a $20 billion … Continue reading →

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Chicago: The Taxing City

Posted on November 18, 2007 by Russ

Back in September, I reported that Cook County was looking at increasing its sales tax. That hasn’t happened yet. However, the City of Chicago decided that one good tax increase deserves another. Chicago’s City Council passed a $0.05/bottle water tax … Continue reading →

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It’s Time for Earmark Reform

Posted on November 16, 2007 by Russ

Pork has gotten ridiculous in Congress. My Congressman, John Campbell, is one of the few who has said he will not ask for any earmarks for his district. Meanwhile, David Obey (D-WI), the Chairman of the House Appropriations Committee, said … Continue reading →

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For The Birds

Posted on November 15, 2007 by Russ

One of the vexing matters for tax professionals are side businesses. If they’re profitable, it’s usually not an issue. It’s another Schedule C for the return. However, when they are unprofitable problems can arise if the IRS scrutinizes the return. … Continue reading →

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Bonds Indicted for Perjury and Obstruction of Justice

Posted on November 15, 2007 by Russ

Barry Bonds was indicted this afternoon on charges of perjury and obstruction of justice. Bonds was not indicted on any tax charges. I’m sure this indictment will gets lots of play in the media, and on sports websites such as … Continue reading →

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