Archive for October, 2008

Plastic Surgery Looks Good as a Tax Write-Off for Certain Businesses

Thursday, October 9th, 2008

It’s possible to write off plastic surgery as a business expense, but you have to be able to prove your appearance affects your earning potential. I had a client who was a stripper and she claimed her breast augmentation operation as a business expense. The Internal Revenue Service says that in general, a nip tuck may qualify for a write-off if it is “ordinary and necessary.” So when the IRS denied the deduction, she
[Read More]

IRS Enters Into Settlement Agreement With Top Firm

Thursday, October 9th, 2008

Arnold & Porter the latest to be effected in IRS’s continued push against tax cheats and tax shelters as the government continues to press on.
By Michael Rozbruch
———————————-
The onslaught continues.
The Internal Revenue Service’s latest victim: Arnold & Porter, an international law firm and a heavyweight in the corporate world.
The IRS reached a settlement agreement with Arnold & Porter in September which required the law firm to pay a civil tax promoter
[Read More]

Florida Businessmen Indicted on Various Tax Charges

Wednesday, October 8th, 2008

A federal grand jury returned two separate indictments charging two Florida businessmen with various income tax fraud charges.The two defendants are James T. Lovern, 37, a resident of St. Petersburg, Fla.; and Leo J. Corrigan IV, 38, also a resident of St. Petersburg, Fla.According to the allegations in the two indictments, Lovern and Corrigan co-owned and operated various businesses in Pinellas County between 2001 and 2004.The indictment filed against Lovern
[Read More]

Check Out the Best of the Best Tax Bloggers on Wandering Tax Pro

Wednesday, October 8th, 2008

I was recently asked to do a guest article on a great blog called The Wandering Tax Pro as part of a special series featuring the blog-o-sphere’s best tax bloggers.  TWTP is a great resource for tax professionals so I hope you check it out and read my post on “My Best Tax Advice for the Taxpayer who Needs IRS Debt Relief.”

Business Matters – An Hour of Free Business Tax Advice for Your Small Business Matters

Monday, October 6th, 2008

I will be appearing on the weekly blogtalkradio business show live on October 8th  at 1 PM, EST (1am, PST). The show is hosted by Regina McRae, owner of Grandma’s Secrets, New York’s only desert delivery company.
Join us for an informative segment for sole proprietors and small business owners who want to know how to avoid tax pitfalls. You are also invited to join us in the chat room or to call in with
[Read More]

IRS Question Corner…Should I be skeptical of claims that I can reduce my tax debt by pennies on the dollar?

Saturday, October 4th, 2008

As you’ve no doubt read in the pages of IRS Times & Inquirer, there are a lot of scam artists out there who would like to take advantage of people with tax troubles. Many of these scam artists will make such claims.
That’s why it’s important to see a qualified tax professional; he or she may be able to in fact reduce your tax debt by pennies on the dollar.
A true
[Read More]

Dancing with the Stars Indy Race Car Driver Indicted!

Thursday, October 2nd, 2008

I did a post a while back called “Even the Beautiful and Famous Pay Taxes”
Once again, another “star”, a “Dancing with the Stars” star, is in hot water with the IRS.
Helio Castroneves, indy race car driver and ABC dancing star, was accused today of using “an offshore Panamanian shell corporation Seven Promotions to conceal and disguise the true and correct amount of Helio Castroneves’ income from the Internal Revenue Service.”
The alleged
[Read More]

The 5 Types of Tax Scams You Should Watch Out For!

Thursday, October 2nd, 2008

Everyone is anxious for news of tax refunds and economic stimulus payments, right? Scam artists obviously think so.  “Just click the link in this e-mail”, the IRS official apparently requests. Scam artists are luring U.S. taxpayers with claims of information about upcoming refunds and payments to collect information they can use for identity theft.
In 2008, so far, taxpayers reported to the IRS more than 1,600 such e-mails, known as “phishing”
[Read More]

I’ll be on KKLA with Frank Pastore 10/2 at 4:25 – Live!

Wednesday, October 1st, 2008

I’m being interviewed by Frank Pastore on KKLA Thursday, October 2nd at 4:25 PST.  I’ll be talking tax relief, tax tips, IRS and more!

Michigan Man Close to a Million Dollars in Tax Debt!

Wednesday, October 1st, 2008

Frank Scaramuzzino, of Shelby Township, Mich., owner of Premier Autoworkers, was charged with three counts of failure to file income tax returns and four counts of failure to pay income tax.
According to court records, during the 2001 through 2003 tax years, Scaramuzzino received gross income of more than $2 million and failed to file his income tax returns with the IRS.  As a result, he failed to pay $736,917 in
[Read More]