Footnotes: Bacon Tax Scams, Sketchy Boyfriends and A Few New CPAs in Maryland Tonight | 11.02.12

Posted on by Adrienne Gonzalez

Groupon responds to SEC inquiry on accounting [Reuters]

Silicon Valley estate manager's former boyfriend faces $17 million theft charge [San Jose Mercury News]

Tax haven property markets thrive as political scrutiny grows [Reuters]

Union Busting by Profiting From Non-Profit Seen Violating IRS Rules [Bloomberg Businessweek]
You guys, IT'S ABOUT BACON.

Denis MacShame, and the vindication of an heroic accountant [The Daily Mail]
Quote of the entire story: "I mean, really. If you're going to rig up 19 fake invoices, worth £12,900 in expenses claims on taxpayers' money, you don't want to find yourself faced with a politician whom the readers of Accountancy Age once voted their Personality of the Year (I was a little thrilled to see that accountants, too, need heroes)."

Once more, with feeling: Celebrating our newest CPAs [CPA Success]
Congrats to this year's new crop of Maryland CPAs!

 

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Is the Shortage of Good Accountants in the Sex Industry an Opportunity?

Okay my friends, this is a serious problem in our country that needs addressed. The vast shortage of competent, professional, tax advisors and accountants for escort service businesses, brothels, and your run-of-the-mill houses of ill repute can go on no longer. If not for the business opportunity, then for the good of your fellow Americans and maybe your state’s dire fiscal situation.


Today we learned that the one of the proprietors of Companions, “a call-out escort service” in Salt Lake City that was convicted of one count of tax evasion. Jodi Hoskins and her husband Roy were both convicted of dodging taxes (he in May 2009) for the year 2002. They managed to underreport their gross receipts by $1,204,354 which resulted in evaded taxes of $485k-ish. As you can tell, this is a bit of a problem. And with all challenges/problems/giant pains in the ass, therein lies an opportunity.

Our position is that these businesses simply cannot go on without more accountants and tax professionals stepping up to help these pillars of the business community run their whorehouses better. This means you, GC readers. Your knowledge of the double-entry accounting, inventory, derivatives, and payroll will be invaluable for these entrepreneurs and their employees.

Plus! If more of these businesses are in compliance with state and federal taxes, that’s one more step to states becoming fiscally solvent AND Tim Geithner can give the cash printing machine break. Everyone wins!

Escort Service Operator Convicted of Tax Evasion [Web CPA]
Companions Website [Warning: NSFW]