Tax Guru – Ker$tetter Letter

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Archive for January 13th, 2006

Blame the Accountant

Posted by taxguru on January 13, 2006

Survivor winner and tax cheater Richard Hatch is trying what many of us call the “Willie Nelson defense,” as in this quote from a recent article on his trial.

Hatch …was relying on the advice of a self-employed accountant who was “in over her head.”

 Hatch also conned another accountant:

One accountant Hatch hired estimated he owed about $230,000 in taxes for 2000, Reich said. The television star asked for a second return showing his estimated tax bill had he not won the million-dollar prize.

Despite warnings that the second analysis was for comparison only, prosecutors said, Hatch filed the return with the IRS.

 

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Posted by taxguru on January 13, 2006

If Speculators Get Itchy, Residential Market Could Fall – As big a fan of real estate investing as I may be, I have always known that buying property based on the same kind of “greater fool” theory of investing that propelled the late 1990s dot-com stock market bubble, is just as reckless with real estate. 

 

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Practicing In Other States

Posted by taxguru on January 13, 2006

Art Berkowitz, the CPA whose spreadsheet I mentioned earlier regarding keeping track of the different states’ rules for licensing of out of state CPAs, has a blog devoted just to this topic, called CPA Out-of-state licensing.   He has some interesting feedback from other CPAs who are just now learning about these new rules around the country.

 

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Media Ignore Tax Cut Benefits

Posted by taxguru on January 13, 2006


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