Most Commented Business Blogs (303)

Talking with a friend today, we discussed what are the usual penalties for tax fraud/evasions. Her response was: Prison. Remember Charles Kushner?
I pulled up some statistics and found several sites differed, but nearly the same.
The average sentence for tax fraud was 14 months.
Of that 63% went to prison.
52% were white with an average of 52 years old.
82% had no prior criminal history.
Median amount of fraud was $278,325.
11.6% involved amounts greater than $1.5 million.
Top five districts of offenders:
New Jersey, California, Illinois, Massachusetts, New York.

Charles Kushner, got 2 years and was jailed for tax evasion, making illegal campaign donations and tampering with a witness, his brother-in-law. He orchestrated a sex tape with a prostitute and sent it to the man’s wife. Kushner pleaded guilty in 2004 to 18 counts of tax evasion, witness tampering and making illegal campaign donations.
His confession included a retaliation against his brother-in-law, who was cooperating with federal authorities. Kushner hired a prostitute to seduce him in a hotel room with cameras, filming the encounter and sent it to his sister, the man’s wife.
He was pardoned by Donald Trump.

So, I asked the question: "Trump was found guilty of tax fraud. Why wasn't he sent to prison?"

Earlier this year, I noticed a few sites have changed security that requires a Logon to view webpages. Twitter, Facebook, LinkedIn to name a few. Direct links from other pages works... sometimes, but attempts to access a main page requires the user to logon.

I'm predicting there will be more and more of this to where all media sources will require some kind of registration/membership to view their content.

Regular visits to Google asks me to logon... I ignore them, but the day may come where I'm unable to do any searches without being 'connected'

Unless a YouTube video is restricted to adult content, videos are open to view...
When I search on a song or artist, they and others like it keep popping up until I clear my cookies and cache files. With a logon, YouTube would have more control to select adds they think the user would view. That would require clearing the history in the membership file.

I see Reuters news service reported that Twitter has permanently suspended the account of 'My Pillow Guy' Mike Lindell for repeated violations to their company policy on election misinformation.
His personal account had nearly half a million followers.

It appears to be a self inflicted wound as QVC shopping channel quietly stopped selling his 'MyPillow' products in June of 2020.

Business 101 states: Never mix business with religion and politics.

I pay an accountant to do my corporate and personal taxes. She's a licensed CPA and we usually work via email. I scan and send documents to her and things that require original signature go by US postal Service. I'll mail checks to her for services. We are both good with this arrangement and have been doing it for years.

Last year, I received a letter from the IRS stating I didn't pay all the 3rd quarter tax. They found an error in the calculation. She missed adding a number from a previous column to the total. My accountant review it and apologized for the error. I mailed the check to the IRS two weeks before the due date. It went out certified mail.

Saturday, I received a letter from the IRS threatening to seize my property for non-payment.

I went online to review my bank statement and my check cleared 20 days after it was mailed and 3 days before they sent out the notice. What irked me was it took more than 2 weeks for them to receive my payment. Obviously a postal delay.

Monday was a legal holiday, but the first thing today was to call and find out what happened. The agent I spoke to stated the account now has a zero balance and the interest and penalty had been removed. She noted my account in the event 'the left hand didn't figure out what the right hand was (or wasn't) doing' so I have no repercussions.

I prefer mailing checks, but in future I would consider going online to make an electronic payment... that way, they won't lien on me!

Summary: I dislike the threat, and not a "did you receive the first notice? Please send a check" Certainly the post office taking weeks for a certified letter when it should have been 2-3 days or mail mis-delivered that happens a few times a month.

It's time I do some planning for my future. COVID changed my plans of buying houses/condos in need of repair, doing renovations and selling/flipping them for profit.
House prices are off the scale and if you actually find one it's a bidding war to get it.
So my direction must change and I need to see the advice of a certified financial planner.
By coincidence, one of my clients is in the business...

I'm getting calls, letters and emails from people and companies all reminding me about new COVID-19 changes they have implemented. Enough already. The air conditioning serviceman will arrive with masks, gloves and booties. I know who to call when my a/c breaks, I don't need to be reminded every week.
I haven't purchased from Guitar Center in a year and now they will deliver to my car when I order online. 2 emails a week telling me this.
Time to get out the bug spray because they are crawling out of the woodwork now...

Online, surgical masks in quantity are around $0.75 each. A local vendor has packs of 4 at $12.50 and I doubt they will sell many at those prices. They are cashing in on corona... or at least attempting?
A friend told me Walgreens now has stock and selling a box of 20 masks for $12.
That's the right price.

Once the jewel of the Middle East, as a state only a century old, and has known the high life, along with low wars. Seems like the real problem is the evolution toward a total lack of accountability, on the part of corrupt Pols, the rapacious banks, and the people themselves. All blame each other, and when that no longer brings modest results, they seem resentful that the IMF and other loan brokers, no longer have open wallets for them. As was the usual modus operendi there for generations. Money down rat holes gets gobbled up by the most adept rodents.
Depositors can't get their dollars back from banks, hospitals (almost all private) are closing---complaining there are no more subsidies from Beirut. Imagine that? Currency devalued some 70%, with fewer paid in "fresh money", ie, foreign cash. Few jobs left at all. Infrastructure failing, or just no longer extant.
The second hand clothing/possessions markets thrive, where mid fashion was formerly the mode. Soup kitchens are packed, as are food banks, but supplies are low. And emigration, especially among youth, and the better heeled, is way up. Government officials have mostly given up, in a funk all, except when protecting their ill gained loot. Even the black markets have quit. Long forgotten friends/kin are being hit up for help of any sort. Food, rent, medicines.
We rightly think of Dark African States as being in this shape, but the blight has moved to Little Libon. Power and refuge had been available and shared among the three main religions, but after the last war, suspicions remain high.
Regional neighbors have meddled or tried to intervene, depending on perspective, and as with government officials, all have given up.
Can anyone say it's THE prototype of a failed state?

Just look at the 1.8k comment scroll for CBS story on the Biden INAUGURAL...
No One is buying their bull shit..
Trump ..538
Biden...0
FEMA...666.

From time-to-time I read or hear an unusual word or phrase from a group of people, often unrelated. This week, it's "Banana Republic!”
Why are so many saying it?
Because Trump said it.
“My great company, and myself, are being attacked from all sides," Trump added. "Banana Republic!”

He's testifying Wednesday (today) in a NY investigation.