Posts tagged as:

Madoff

Deduct This: History of the Casualty, Disaster and Theft Deduction

2 July 2011

As I sat on my parents’ deck last week, I could see huge plumes of smoke in the distance. The fire in Pender County, NC, where my parents live had reached nearly 30,000 acres (or about 47 square miles) by the time we were headed home. A lack of rain kept fires burning there for [...]

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Friehling Loses CPA License, Still Awaits Sentencing

4 August 2010

A little over a year ago, Bernie Madoff received a 150 year sentence (that’s more than most serial murderers get, folks) for his “extraordinarily evil” fraud. Nearly six months later, David Friehling, Madoff’s longtime accountant pleaded guilty to assisting Madoff with the fraud. Friehling, who is expected to receive over 100 years in prison for [...]

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It’s a Tax Lien, Dahling

14 November 2009

The woman who claims that she “never hated a man enough to give him diamonds back” may have to change her mind when it comes to Bernie Madoff. Zsa Zsa Gabor claims to have lost between $7-$10 million as part of Madoff’s scheme, leaving her with some substantial tax woes. The 92 year old actress [...]

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Madoff Victims Get a Tax Break (or the One Where I Say Things That Make People Mad)

24 March 2009

The IRS has finally developed a strategy for dealing with the victims of Bernard Madoff’s Ponzi scheme. The plan is said to apply to all participants in Ponzi schemes, not just Madoff’s, but clearly would not have been put in place without recent events. A Ponzi scheme operates like this: you put money into a [...]

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