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Monthly Archives: November 2018

Decade Of Dodging US Taxes Gets UK Lawyer 20 Months in Prison

According to Law360, a Manhattan federal judge sentenced English lawyer Michael Little to 20 months in prison on November 20, 2018 for helping the children of a deceased investor dodge taxes on their $14 million inheritance over a decade and for failing to pay his own taxes, ruling also that the former Royal Marine lied as he…
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Venezuelan Billionaire News Network Owner and Former Owner of Dominican Republic Bank Charged in Money Laundering Conspiracy Involving Over $1 Billion in Bribes

According to the DoJ, a Venezuelan billionaire who owns Globovision news network was charged in an indictment unsealed yesterday for his role in a billion-dollar currency exchange and money laundering scheme.  A former Venezuelan national treasurer and a former owner of Banco Peravia bank in the Dominican Republic each pleaded guilty in proceedings unsealed today for…
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TCJA Divots Golf Corse Expenses and Takes a Bite out of the Meal Deduction.

Taking clients to ballgames? Tax law change makes it costlier. Businesses, especially smaller firms, may scale back on treating clients to major league baseball games, golf outings and the like after Congress and President Donald Trump ended a tax break for such entertainment. Tax reform law commonly referred to as H.R. 1 Tax Cuts and…
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2017 TCJA Allows Small Businesses to Expense More

The Internal Revenue Service reminded small business taxpayers in IR-2018-223 that changes to the tax law mean they can immediately expense more of the cost of certain business property. Many are now able to write off most depreciable assets in the year they are placed into service. The Tax Cuts and Jobs Act (TCJA), passed…
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