The case of Jason Svonavec, a prominent businessman involved in coal mining, crane services, and agriculture, serves as a stark reminder of the consequences of misrepresenting expenses for tax purposes.
When you own a small business structured as an S corporation, it’s crucial to understand the rules that govern your corporation’s status. One key aspect of maintaining your S corporation
When it comes to legal settlements, the general rule is that payouts related to personal injury or illness are not subject to federal income tax. However, as with many aspects
In the world of business, maintaining compliance with tax laws is as crucial as delivering quality services to clients. Yet, many business owners, overwhelmed by the myriad responsibilities that come
In a recent case that highlights the severe consequences of tax evasion, a Newark construction business owner admitted to evading taxes by using a check-cashing scheme and failing to collect
Owning a vacation home or second property can be more than just a personal luxury; it can also be a strategic asset in your tax planning. By understanding how to
A recent case involving a Rochester businessman pleading guilty to a tax charge has highlighted the serious consequences of failing to meet tax obligations. This case serves as a cautionary
In a recent case that underscores the critical importance of tax compliance, Alabama chiropractor Gary Forrest Edwards was indicted on charges including tax evasion and filing false tax returns. Edwards
Charles Sorenson, a retired Delta Airlines pilot, was recently found guilty of multiple serious tax-related offenses, including tax evasion, filing false tax returns, failing to file tax returns, and making
The recent sentencing of Jess Adams, the former treasurer for the City of Houston, Alaska, serves as a stark reminder of the vulnerabilities in financial management systems. Adams was handed