Author Archives: Russ

Probate in CA: Notify the FTB

Posted on August 11, 2007 by Russ

The passage of AB361 in California has modified California’s Probate Code (§902). Beginning July 1, 2008, estate representatives must notify the Franchise Tax Board when an estate is opened for probate. Current law requires notification within 90 days by an … Continue reading →

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A Strip of Evasion

Posted on August 7, 2007 by Russ

I’m heading to Florida tomorrow, so posting will be light to non-existent until the weekend. Until then, here’s yet another story of someone who got into tax trouble from a strip club. And, yes, the name of the individual did … Continue reading →

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Vacation

Posted on July 27, 2007 by Russ

Yes, it’s time for my annual vacation. I’ll be back on August 6th; however, I’m heading out of town on August 7th for the remainder of that week on a business trip so posting will likely be light until August … Continue reading →

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Will There be a Budget When I Get Back From my Vacation?

Posted on July 27, 2007 by Russ

I’m leaving tomorrow for a ten-day vacation. Will California’s legislature have a budget by the time I return? Republicans in the State Senate want a balanced budget. State Senator Tom Harman (R-Huntington Beach) told the Flash Report, “Senate Republicans have … Continue reading →

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Like Father, Like Son

Posted on July 25, 2007 by Russ

Following in your father’s footsteps can be a very good thing. However, when you’re following your father into (potentially) prison for tax evasion, that’s not a good thing at all. Let’s first talk about the father, David Pflum. The elder … Continue reading →

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So You Catch Barry Bonds’ 756th Homer…Did You Just Lose $100,000?

Posted on July 25, 2007 by Russ

An interesting article this morning in the Wall Street Journal: What are the tax implications of catching Barry Bonds’ 756th home run? Sometime in the next few weeks some lucky fan will likely catch the ball. (There’s always the chance, … Continue reading →

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Why Trust Fund Tax Fraud is Bad

Posted on July 24, 2007 by Russ

We received an email regarding the post we did on Ace Tire & Parts. The owners of Ace are accused of violating federal employment laws and have each pleaded guilty to one count of tax fraud. In any case, we … Continue reading →

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Barry Bonds: Home Run King…and Tax Evader?

Posted on July 22, 2007 by Russ

Barry Bonds is moving towards career home run #756, which would exceed Hank Aaron’s career mark of 755. Bonds did not play in today’s game at Milwaukee. He currently has 753 homers, and will face Atlanta in San Francisco Monday … Continue reading →

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No Budget Yet

Posted on July 22, 2007 by Russ

California is still without a budget, and the battle will not end until Wednesday at the earliest. The State Senate recessed Saturday with Republicans refusing to budge. California requires a 2/3 vote in each house of its legislature to pass … Continue reading →

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A Bozo Scheme Fails

Posted on July 20, 2007 by Russ

Please don’t try this yourselves. You have a successful business (in this case, Ace Tire & Parts of Coraoplis, Pennsylvania). You decide that you don’t have to pay payroll taxes; instead, you’ll make your employees checks payable to “Cash” and … Continue reading →

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