Author Archives: Russ

New Jersey Has Its Budget

Posted on July 6, 2006 by Russ

New Jersey legislators and Governor Jon Corzine agreed on a budget deal today. The deal includes the sales tax increase from 6% to 7%, but with half the proceeds of the increase being used to reduce property taxes this year … Continue reading →

Posted in New Jersey | Comments Off on New Jersey Has Its Budget

What Not to Do In a Crisis

Posted on July 4, 2006 by Russ

Assume you run an organization, and you discover that your revenues (income) are being exceeded by your expenses. What would you do? Would you, (a) Immediately close down your sixth largest source of income, (b) Close down your fourth and … Continue reading →

Posted in New Jersey | Comments Off on What Not to Do In a Crisis

Corzine Shuts Down New Jersey

Posted on July 2, 2006 by Russ

Democratic Governor Jon Corzine ordered all nonessential New Jersey government offices to close, and road construction projects, motor vehicle offices, and the state lottery all went dark. Governor Corzine wants an increase in the state sales tax of 1%; the … Continue reading →

Posted in New Jersey | Comments Off on Corzine Shuts Down New Jersey

There’s Still the Old Black & White TV

Posted on June 29, 2006 by Russ

In the United States, when you’re accused of tax evasion you have lots of legal recourse, including fighting the charges within the IRS’ appeals process, and then Tax Court. However, in Argentina it appears things work differently. Just two days … Continue reading →

Posted in Tax Evasion | Comments Off on There’s Still the Old Black & White TV

Pimp Tax

Posted on June 27, 2006 by Russ

Senator Charles Grassley (R-Iowa) has proposed making some tax crimes felonies if the underlying issue is a pimp or sex trafficker who fails to file employment tax forms. The penalties would be a 10-year prison sentence and a $50,000 fine … Continue reading →

Posted in Legislation | 4 Comments

It’s Unfair, but Tough

Posted on June 27, 2006 by Russ

Today the Tax Court decided two cases where the Court basically said, you’re right, the law is unfair, but tough—you have to obey it. The first case involves a gambler who wanted to net her wins and losses. If you’re … Continue reading →

Posted in Tax Court | Comments Off on It’s Unfair, but Tough

Payroll Processing Follies

Posted on June 27, 2006 by Russ

There’s one task that I insist that my business clients do not perform themselves: payroll processing. Given the penalties and legal liability issues, I urge them to go with an extremely reputable company. There are several that do an excellent … Continue reading →

Posted in Payroll Taxes | Comments Off on Payroll Processing Follies

Into the Swamp (New Jersey Update)

Posted on June 26, 2006 by Russ

I joke with my writing partner about New Jersey being one giant swamp. At least the Garden State’s politics are fun to watch—at a distance. Today, the New York Times reports that a few Democrats are now supporting Governor Corzine’s … Continue reading →

Posted in New Jersey | Comments Off on Into the Swamp (New Jersey Update)

Attorney and Activist in Tax Trouble

Posted on June 26, 2006 by Russ

Civil rights attorney Stephen Yagman has been indicted on tax evasion, fraud, and money laundering charges. The charges stem from Yagman not paying all the tax he owed in the mid-1990s and accruing significant interest charges and penalties. Additionally, he … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Attorney and Activist in Tax Trouble

Will They Ever Wise Up?

Posted on June 26, 2006 by Russ

States have seen tax revenues flourish this year, leading to budget surpluses of various sizes. So, if you have a budget surplus what do you do? Do you: (a) Increase spending, to help the people who supported you or groups … Continue reading →

Posted in Legislation | Comments Off on Will They Ever Wise Up?