Athletes in Tax Trouble
Two reports this weekend about athletes having tax troubles. First, former baseball player Lenny Dykstra refused to pay his accountant's bill. Well, he was billed $111,097. I guess I don't charge enough. Anyway, Dykstra told the New York Daily News, "Did they actually think I would pay that much for a tax return? That's insane." The accounting firm claims that such charges are "fair and reasonable" given their retainer agreement and that the charges have now grown to nearly $140,000 (including interest). (Hat tip: TaxProf Blog)
Meanwhile, seven current or former NFL players have been ensnared in a phony gold mining scheme sold as a tax shelter. Joe Kristan reported on this and a phony chicken farm scandal. I think it's easy to see how a phony mining scheme can be done. But how do you invent a phony farm? Even better, the chickens on this farm laid liquid eggs. Sounds like a book about cows that give chocolate milk.
Meanwhile, seven current or former NFL players have been ensnared in a phony gold mining scheme sold as a tax shelter. Joe Kristan reported on this and a phony chicken farm scandal. I think it's easy to see how a phony mining scheme can be done. But how do you invent a phony farm? Even better, the chickens on this farm laid liquid eggs. Sounds like a book about cows that give chocolate milk.
Posted by Russ on
Sunday February 24, 2008 at 4:47pm