Author Archives: Russ

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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A Graduate of Western Tax Service?

Posted on July 19, 2007 by Russ

The Western Tax Service method of preparing tax returns is different. Customers love the high refunds. Of course, the deductions claimed on Schedule A were almost all either false or overinflated. Did I mention that Western’s proprietor is at ClubFed … Continue reading →

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Typos Count

Posted on July 19, 2007 by Russ

I used to reside in Tulare County, located in California’s Central Valley. It’s prime agricultural land. It’s also one of the poorest counties in California. And the county will need to find $327,000. The Dinuba Redevelopment Agency is funded through … Continue reading →

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It’s July 19th and There’s Still No Budget

Posted on July 19, 2007 by Russ

In nine days I go on vacation. I think it’s even money as to whether or not California has a budget before I leave. Of course, California is supposed to have a budget signed by June 30th, but that deadline … Continue reading →

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A Patently Good Idea

Posted on July 19, 2007 by Russ

Congress is actually doing something smart. According to the TaxProf Blog, the House Judiciary Committee approved a proposal prohibiting patents of tax planning methods. I’m amazed that Congress is actually doing something intelligent.

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Neteller Settles

Posted on July 18, 2007 by Russ

Somehow it’s fitting on the day that the World Series of Poker champion is crowned that we find out that Neteller, the beleaguered Internet payment processor, has settled with the U.S. Department of Justice. According to the press release that … Continue reading →

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The Other Big Winners at the World Series of Poker

Posted on July 18, 2007 by Russ

Congratulations to this year’s winners at the World Series of Poker, run by Harrah’s, and hosted at the Rio Hotel & Casino in Las Vegas. The Main Event, the World Championship of Poker, has just been completed. This year, 6,358 … Continue reading →

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Another Offshore Scheme Down the Drain

Posted on July 15, 2007 by Russ

I’ve been saying for some time that offshore trusts and bank accounts set up with no purpose at all (except to avoid US income taxes) are definitely in the cross-hairs of the IRS. Another user of this scheme will be … Continue reading →

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