Category Archives: Tax Evasion

Bozo Tax Tip #9: Foreign Trusts

Posted on April 1, 2013 by Russ

By far the worst tax schemes in the view of the IRS are offshore (foreign) trusts. In fact, trusts of all sorts—domestic and foreign—are regularly abused. First, not all trusts are bad. Many trusts serve a legitimate purpose, such as … Continue reading →

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Beavers Convicted: Loans Require Payback

Posted on March 21, 2013 by Russ

I’m shocked, just shocked to find out that there’s corruption in Chicago. Actually, I’m not. I’m just surprised to find out that gambling led to the downfall of a cog in the Democrats’ machine politics in the Windy City. Commissioner … Continue reading →

Posted in Illinois, Tax Evasion | Tagged | 1 Comment

Saying You’ve Never Paid Taxes in your Life on National TV After Earning Lots of Money Isn’t Brilliant

Posted on March 17, 2013 by Russ

An acquaintance of mine is a mixed martial arts (MMA) fighter. I’ve known him for many years; he’s smart, driven, and is definitely not the individual who I’m writing about. He’s smart enough to know that he has to pay … Continue reading →

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Israeli Film Mogul Charged with Tax Evasion

Posted on February 20, 2013 by Russ

Yoram Globus is perhaps best known for being behind Cannon Films. With his cousin Menahem Golan, Cannon produced such films as American Ninja, Superman IV, Delta Force One, and a long, long list of others in the 1980s. Now, Mr. … Continue reading →

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A Lowe Blow

Posted on February 20, 2013 by Russ

I know the headline is a bad pun, but I couldn’t resist. Former NBA star and current Utah Jazz assistant coach Sidney Lowe was arrested on Monday on state tax evasion charges. Lowe is accused of not filing North Carolina … Continue reading →

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Jackson’s Fall Includes Tax Charge

Posted on February 17, 2013 by Russ

I was going to put in a line in this post, “Will the first Chicago politician who is honest, forthright, and not corrupt please stand up?” However, I realized that there must be some politician in the Windy City who … Continue reading →

Posted in Illinois, Tax Evasion | Tagged , | 1 Comment

Trust Attorney Showed No Trust

Posted on February 6, 2013 by Russ

Kenneth Hoesch was an attorney in Zeeland, Michigan. Mr. Hoesch specialized in trusts and estates. This is definitely an important specialty area; the correct application of trusts can increase the amount of money that flows to beneficiaries and decrease the … Continue reading →

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Cash and Carry Doesn’t Work for Strip Club Owner

Posted on January 27, 2013 by Russ

A running theme of this blog is that it doesn’t matter how you are paid; income from cash is just as taxable as checks or credit cards. But it’s so tempting when you receive cash; who will notice if a … Continue reading →

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Fat Joe Takes the Rap

Posted on December 23, 2012 by Russ

Although I enjoy music, my tastes do not go towards rap. So when I read about Joseph Cartagena, aka rap star Fat Joe, I mumbled, “Who?” Well, Mr. Cartagena has earned plenty of money the past four years. In court, … Continue reading →

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Chiropractor Will Adjust to ClubFed

Posted on December 4, 2012 by Russ

A Cadillac, Michigan chiropractor thought he had the perfect method of saving on taxes. He created two sets of books. One accurately reported his income and expenses; the other underreported income and overreported expenses. (I have always wondered if in … Continue reading →

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