Category Archives: Uncategorized

It’s How They Earned the $1.46 Million of Tax Refunds that’s the Problem

Posted on November 17, 2013 by Russ

I’d like to convince my clients to start adding gratuities when they pay me. I did have one client just add $10 to his payment (and yes, I’ll be claiming that on my tax return); I appreciated it and told … Continue reading →

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Up in Flames

Posted on October 13, 2012 by Russ

Back in 2005, a load of estimated payments ended up “swimming with the fishes” when a driver of a truck went off the San Mateo Bridge into the San Francisco Bay. Believe it or not, a similar incident happened last … Continue reading →

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Vacation

Posted on July 27, 2012 by Russ

It’s time for my annual vacation. If something earth-shattering in the tax world happens while I’m relaxing, I’ll take time out to post on it. Otherwise, enjoy the fine bloggers listed in the blogroll on the right. I’ll be back … Continue reading →

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Bozo Tax Tip #1: 300 Million Witnesses Can’t Be Right

Posted on April 15, 2011 by Russ

For tax bloggers like myself, Richard Hatch has been a godsend. His antics have been, well, remarkable. Mr. Hatch has regained the top spot in this year’s Bozo Tax Tips. It took a lot of effort (and stupidity), but he’s … Continue reading →

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Rappin’ Your Way to ClubFed

Posted on March 23, 2011 by Russ

Of course, not only are there Bozo tax professionals, there are Bozos in all professions–especially the arts. Ja Rule is a famous rapper (well, famous in the world of rap). He also followed the tax practice that income after tax … Continue reading →

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Bush Tax Cuts Likely Will be Temporarily Extended

Posted on December 6, 2010 by Russ

It appears that there will be a temporary extension of the Bush Tax Cuts for two years. At least, that’s the direction Congress is moving in from news reports. While the House passed a motion to only approve an extension … Continue reading →

Posted in Legislation, Uncategorized | 1 Comment

Wellek Pleads Guilty, Admits Tax Evasions

Posted on November 8, 2010 by Russ

In October I noted that Michael Wellek, the owner of three strip clubs in the Chicago area, would soon plead guilty to tax evasion. He did so last week. Mr. Wellek admitted he didn’t file a tax return for years … Continue reading →

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Another Untrustworthy Trust for a Doctor

Posted on August 16, 2010 by Russ

There’s nothing illegal about having a foreign (offshore) trust. However, if you use that trust to shelter (hide) income, and if you fail to disclose the trust, and if you lie to federal agents about the trust, you can find … Continue reading →

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Spring Ahead…

Posted on March 13, 2010 by Russ

Tonight is not the favorite night for tax professionals: we lose an hour of sleep. Daylight Savings Time begins at 2am; before you head to bed move your clocks up one hour.

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