The Tax Foundation, a nonpartisan tax research group based in Washington, D.C., recently released its State Business Tax Climate Index which ranks how “business friendly” the 50 state tax systems are. Not surprisingly, the results showed that from a tax perspective, it’s generally more expensive to do business in parts of the northeast and less…
Ever wish you could live a double life? Growing numbers of people do every day. At least, virtually, courtesy of a San Francisco-based Linden Lab which has introduced a virtual world called Second Life in 1999. Second Life describes itself on its website as: “a 3-D virtual world entirely built and owned by its residents….
In part of its efforts to get more money faster be more tax-payer friendly, the IRS has finally brought its Installment Plan Agreement online. The OIA is not to be confused with the OIC, the Offer in Compromise, which allows you to apply to reduce the total amount of tax due either because it is…
It’s not just movie stars who are getting in trouble for not paying their taxes these days. Professional athletes have their share of issues, too. In Italy, the Serie A club, Siena, lost one point due to late payment of taxes on players’ wages. The loss of the point was crucial to the club, which…
As part of a regular series, I’m instituting “Fix the Tax Code Friday!” Everybody in the US (and beyond) seems to agree that the Tax Code is broken. What we can’t seem to agree on is how to fix it. Here’s your chance to offer your two cents… This week’s question: What expense, currently not…
Officials have confirmed that Wesley Snipes, who has an arrest warrant pending in the United States for tax evasion, is currently filming a movie in Namibia (yes, of Angelina and Brad fame). He is reportedly filming a movie in the Namib desert, though the film company would not comment. There is no extradition treaty between…
Okay, here’s your chance to ask me your questions about tax and the Tax Code. And yes, there are caveats. What did you expect? I am, after all, an attorney. Keep your personally identifiable information out of your question. This is the internet, remember? If you say things like “I’m the only doctor in my…
Well, it appears to be over, the “it” being the fight over guardianship of multimillionaire socialite and philanthropist Brooke Astor. Anthony Marshall, who had been acting as his mother’s guardian, has been “permanently removed” as the guardian of her multimillion-dollar estate. Marshall’s replacement will be Annette de la Renta and JPMorgan Chase Bank, acting together…
George Pragovich is at it again. A self-confessed anti-tax guru, Pragovich is said to be the brainchild behind the latest round of plaintiffs’ suits filed against the IRS. Though Pragovich refuses to answer questions about his involvement in the suits, Heidi Broward, the wife of former plaintiff Paul Broward was quoted as saying, “He’s one…
Madeline had previously posted an interesting query about the economics and tax implications of (gulp) college football. It’ worth another look in light of this recent post by DevilGrad on a similar issue. There’s even more analysis here. The real question is “Why is a multi-million dollar business, which is not effectively related to a…