At least three times I’ve written about Renaissance, the Tax People. The company, now out of business, was a multi-level marketing firm that promoted deducting personal expenses as business expenses. The latter is why they’re out of business, with the principals finding their way to ClubFed.
Thell G. Prueitt of Kingsland, Texas used to be at Renaissance. After that company dissolved, he set up shop at several other companies. The US Government alleges that Mr. Prueitt is promoting the same schemes as used at Renaissance, and the government is suing to bar him from preparing tax returns. The DOJ alleges that Mr. Prueitt’s materials, “…have falsely claimed that customers could convert non-deductible personal expenses into deductible business expenses and be ‘audit proof.'”
My old advice stands about any tax scheme that you come across: If it sounds too good to be true, it probably is.
Ah, yes, Ren TTP. Has Michael “Flight Risk” Cooper ever gone to trial or is he still sitting in a jail cell somewhere in Kansas?