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Most Recent Posts

Another Northwestern Mutual Life Insurance Tax Disaster

Another Northwestern Mutual Life Insurance Tax Disaster

One thing that you should do is have your life insurance policy serviced by a qualified agent, who won’t let you get blindsided like this.  It is probably not that great an idea to use a policy that you want to stay in force as a liquidity source.  If you are upside down maybe, there is a way to keep the policy alive. You can’t tell from the case what the face of the policy and the spread between the dividend and borrowing rate were.

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Tiny Church Intervenes In Freedom From Religion Foundation’s Most Pointless Case

Here is the deal.  Imagine you are John Koskinen, IRS Commissioner.  You are supposed to collect over two trillion dollars.  You’ve got 90,000 people working for you, but only about 20,000 are actually involved in enforcement – revenue agents, revenue officers, etc.  They are mostly trained as accountants.  How much will you bring in from having some accountants listening to sermons to see how political they are?

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Sylvia Dion CPA Asks – Where Are The Women?

Sylvia Dion CPA Asks – Where Are The Women?

My observation and experience were that everyone was a number, a dispensable machine, and “face time” was much more valuable than the experience and knowledge someone brought to the table. There was a huge focus on utilization or billable hours – which I and many of my CPA colleagues agree is a significantly flawed metric.

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Was CPA Tax Evader On The Lam Or Hiding In Plain Sight?

Was CPA Tax Evader On The Lam Or Hiding In Plain Sight?

Apparently, there were rumors and unconfirmed reports that he was in the Caribbean at the time of his indictment.  Does someone roaming around the Caribbean doing the romantic stuff they do down there, end up with a yearning to return to Ohio and resume working in public accounting and selling insurance?  Seems like the stuff of an inspirational family drama or perhaps a sitcom.  

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Benefit Of Clergy – Why Special Tax Treatment For Ministers Needs To Go

What we really need is the Clergy Tax Reform Act Of 2014.  The Act would repeal Code Section 107 in its entirety and the provisions in the withholding, social security, and self-employment sections dealing with ministers.  Essentially, clergy would be treated like everybody else.  According to Reverend William Thornton, many moderately compensated clergy would feel fine about this solution.

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Tax Court Cuts No Slack On Strip Joint Fraud Penalty

There are a lot of concerns about the whole “gentlemen’s club” phenomenon.  The greatest one is probably the exploitation of the “dancers”.  This can be facilitated by the fiction that they are independent contractors.  I doubt that there are any statistics on the level of dancer tax compliance, although you can find groups like We Are Dancers, which encourage tax compliance.

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