The jury has finally reached a verdict in the Helio Castroneves tax evasion case. There were no scorecards but Castroneves still came out a winner: a federal jury acquitted Castroneves on six counts of tax evasion but hung on one count of conspiracy following a seven-week trial and six days of deliberation. Chances are that…
It’s Fix the Tax Code Friday! And it’s been a long tax week for many of us. So, with tax returns fresh on your mind, I thought I’d ask my readers the same question that I ask my GTKYT tax pros: If you had the opportunity to make one change in the tax code tomorrow…
A federal jury has reached a partial verdict in the Helio Castroneves tax evasion trial but Federal Judge Donald Graham isn’t saying much more than that. The jury has reached a decision on two charges but appears to be hung on the four other tax evasion counts and one conspiracy count. The Judge has asked…
No extensions necessary for President Obama and Vice President Biden. Both have their tax returns for 2008. Here’s the scoop: President Obama and his wife reported $2.7 million in 2008, about $1.5 million less than they reported in 2007 (I guess the recession has hit everyone). A majority of their income came from royalties from…
Tax Day is officially over here on the East Coast. And whew, what a day it was. Here’s hoping yours was pleasant! But just because your returns may (or may not, if you’re like me and you filed extensions) be filed away neatly with Uncle Sam, don’t think that this is the end of tax…
Taxpayer asks: We think we might need some tax advice, regarding the teen’s CD. Obviously we’re charging sales tax (.0655%) so that his $9.99 CD sells for $10.65… but that’s IL tax. Do we have to worry about other states’ taxes if someone from another state orders from him? Taxgirl says: The short answer is…
Taxpayer asks: 7 years ago when I divorced I spent alot of the money I received on my children. Now I read that maybe I could have used the money as a deduction on my taxes. One I bought a $16,000. mobile home, the other I paid off a $10,000 credit card bill. Can I…
Taxpayer asks: In addition to being a pastor, I’ve got $3300 worth of speaking honorariums from various churches and camps. How do I report that? Do I use schedule c (self-employment)? Or is there another form to use? Thank you. Taxgirl says: Hmm. This could go a couple of ways. I think that if the…
Maybe it’s the sunshine that makes folks in San Francisco put off filing until the last minute… Whatever it is, San Fran topped the list of cities with the most residents stalling until the very.last.second to do their taxes. Which cities rounded out the list? I’m proud to say that Philly didn’t make the top…
Another great tax day post: What Would Dad Say » Tax Day, April 15: My Use of Your Tax Money (Via twitter @glhoffman)