Author Archives: Russ

“Fired” Judge Gets Last Laugh

Posted on February 9, 2005 by Russ

If you’re ever in court, hopefully you won’t insult the judge. It might come back to bite you. According to the Arlington (TX) Star-Telegram, Charles Ford and his wife Bivian Brumley were found guilty of tax evasion. Presiding at the … Continue reading →

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The Times’ Bias

Posted on February 9, 2005 by Russ

I no longer subscribe to the Los Angeles Times. The Times still has some solid points in its’ favor: a great sports section, and excellent coverage of the entertainment industry. But the bias in its’ political coverage is rampant. Take … Continue reading →

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Mississippi Gambling Taxes May Increase

Posted on February 9, 2005 by Russ

One of my practice areas is gambling. It appears that the Mississippi legislature is looking at increasing taxes on casinos, according to this report in the Casino City Times. This will probably be good news for Louisiana’s casinos.

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Thompson Convicted on Tax Evasion Counts

Posted on February 9, 2005 by Russ

The “tax honesty” movement claimed that you didn’t have to pay US income taxes because the IRS was misapplying the law. Al Thompson was the leader of one group of protesters. Note the use of “was.” His new home will … Continue reading →

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What Causes Deficits: Not Enough Taxes or Too Much Spending?

Posted on February 9, 2005 by Russ

It can be both, of course; however, the National Taxpayers Union says of the Federal budget deficit, it’s too much spending. While Nancy Pelosi states that President Bush and Congressional Republicans have, “completely abandoned fiscal responsibility,” the National Taxpayers Union … Continue reading →

Posted in Legislation | 1 Comment

RALs, and Why They’re Bad

Posted on February 9, 2005 by Russ

I don’t often agree with Bill Lockyer, California’s Attorney General, but I absolutely agree with his view of RALs (Refund Anticipation Loans). These are available from tax preparers and allow you to get your refund “instantly.” There’s only one problem … Continue reading →

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Federal Budgeting Isn’t Much Better…

Posted on February 9, 2005 by Russ

Below, I comment on California’s bankrupt budgeting process. According to this report from the Heritage Foundation, the Federal budgeting process is only slightly better. Among the points made in the report is that the budgeting process has a bias towards … Continue reading →

Posted in Legislation | 1 Comment

And California’s Rich Aren’t Taxed Enough

Posted on February 9, 2005 by Russ

That’s the Democrats’ view, in this article in the Los Angeles Times. The article says that because of Proposition 13 limits on property taxes (properties are not reassessed until a change in ownership), California loses tax revenues. It’s true. It’s … Continue reading →

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California’s Bankrupt Tax System

Posted on February 9, 2005 by Russ

If you run a business, you need to turn a profit in order to stay in business. If you have a non-profit, your revenues and expenses need to balance. But if you’re the Federal Government, you can have a deficit: … Continue reading →

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Why This Blog

Posted on February 9, 2005 by Russ

After reading Hugh Hewitt’s Blog, starting a blog for Clayton Financial and Tax became a necessity, not a project for “tomorrow” (whenever that is). There are already some excellent blogs covering taxes (see the blogroll on the right–if yours isn’t … Continue reading →

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