The life of the seasonal tax preparer isn’t for sissies. You work your butt off for 15 or so weeks, neglecting family and loved ones, and then you still have 37 weeks to kill.
Some people just live off their tax season earnings and the odd extension. Some find work that matches the tax off-season — say, a beer vendor in a ballpark. And some try to diversify the financial products they can offer out their regular offices.
But securities and insurance sales aren’t for everyone. The owner of Fo Sho Dough Tax of Murray, Kentucky, (allegedly) offers a lesson in the perils of poorly thought-out diversification. First, she allegedly offered more hands-on investment service than her clients may have expected:
A local tax prep business in trouble with the law tonight. The owner of the Main Street business "Fo Sho Dough Tax" in Murray is nowhere to be found. Police have warrants out for Silvia Jones after an investigation indicated thousands in client's refunds were going directly into her business account.
Apparently her bank account isn’t considered an appropriate investment account. But it might have been part of her inventory floor-plan financing:
Murray police say they found four pounds of marijuana and cash after investigating unusual book keeping at a Murray tax office. Police arrested Anna Urquhart during the investigation of "Fo-Sho-Dough Tax." She is charged with marijuana trafficking. Murray police say they the confiscated pot and cash.
The combination of drug dealing and tax services is very unusual. Google searches for “Marijuana CPA” turns up nothing of interest for somebody who wants to feel better about his 1040. “Meth CPA” generates results, but probably not as a result of deliberate search engine placement.
So we are stuck with more pedestrian, if much safer, avocations for the off-season. Anybody here know how to drive a tractor?
“The Buffett thing is just theatrics. If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary’s,” he said. “I think it’s not fair to say that wealthy people don’t pay their fair share. They pay a much higher percentage of their income, they have a higher rate than people who make less,” Bloomberg added. [