Discussion:Charles Rangel Fails to Report $75,000 in Income
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Discussion Forum Index --> Tax Questions --> Charles Rangel Fails to Report $75,000 in Income
| 5 September 2008 | |
| Who are these people who work for us and are supposed to serve? This is disgusting. | |
| 5 September 2008 | |
| He doesn't know any better...he only serves as the Chair of the House Ways & Means committee. | |
| September 5, 2008 | |
| "Mr. Davis said the congressman did not realize he had to declare the money as income, and was unaware of the semiannual payments from the resort because his wife, Alma, handled the family finances and conferred with their accountant, John Viardi, on tax matters." . . . for 20 years!
Yeah, JAD, you could say disgusting. Or maybe revolting. Or how about simply criminal? | |
Beangrinder (talk|edits) said: | 5 September 2008 |
| He deserves a raise and another appointment to a higher office! Isn't that how politics works? | |
| 5 September 2008 | |
| Well, hold up – that’s $75k in total over 20 years, and that’s gross profit, before expenses that are currently being calculated but are expected to be about that same amount (given that the article says there’ll probably end up being no federal tax liability on this). Not excusing him at all, he truly should know better; but I’m a heck of a lot more fired up about his three/four rent controlled apartments up in NYC and the disingenuous way he’s tried to explain that little issue away.
Anyway – I would like to propose that this discussion be moved to the Chat Forum. Yesterday, D&T proposed a similar move for a marginally political discussion, and I seconded him (and moved the discussion). We’re going to be seeing more and more of these over the next sixty days (prime digging season). Am I alone in thinking I’d rather not see ‘em in the Tax Forum? | |
| 6 September 2008 | |
| Anyone able to find a website for John Viardi? I wonder what is his side of the story :) Is the guy a CPA or EA? | |
| September 6, 2008 | |
| Trillium, the article also stated that he used the unit for personal use, so there's a question about how much depreciation he'll actually get to deduct. In my opinion, he has no excuses for not filing his returns properly, whether the net result is $0 or $75,000.
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| 6 September 2008 | |
| I’m with you on “no excuses,” Natalie. He truly should know better. But I did think that the NYT headline was a tad inflammatory. ($75,000 income, as if it was all in one year – the implicit subtext being, “why, that’s more than most US taxpayers make in a year!”)
And while I’d prefer that discussions that start to veer into political issues (especially ideological ones, not that this one necessarily falls into that category) be moved out of the Tax Forum, that’s obviously just one person’s opinion out of all of TaxAlmanac’s regular – and irregular!! – users. If I’m alone with that opinion, I’m alone, so I think I’ll just figure out a way to skip the discussions that look like they may be headed into political territory. | |
Death&Taxes (talk|edits) said: | 6 September 2008 |
| I don't really think this discussion is political but rather are about the preparation of taxes and the administration of justice, just as in the Snipes case and others I have posted. It is not that different from the Derek Jeter story that surfaced last winter, or the Nicolas Cage case.
Unfortunately, as Trillium notes, the press does not understand our business or the workings of it. Note that today Yahoo and others are covering a story on the failure of Silver State Bank, and have dragged one of the candidates' son's name into the story because he served on the audit committee until this summer.....but there is no real background as to whether this man had anything to do with the problems of the bank. The point is that when a 'celebrity' is involved, the press will be sure to mention it. The discussion I referred to was asking us directly about the candidates and their tax plans. | |
| 6 September 2008 | |
| He also uses 4 apartments in a rent controlled building. He lives in 3 and the 4th one is his office. There are people in need of these apartments in Manhattan, where rents are sky high. | |
| 6 September 2008 | |
| I tried going to the NYS site for licensed professionals - and you no longer can obtain that information. I was attempting to see if Viardi was either a CPA or PA. | |
| 6 September 2008 | |
| I too agree that headlines can be misleading. Case in point, the Washington Post had a headline some years ago (I am recalling from memory, but it's close):
"Ex-Marine tries to kill girlfriend...." What his being an ex-Marine had to do with it is anyone's guess. Many complained the headline was wrong and could have just read "Man tries to kill etc......" Anyway, anytime you can drag a politician into the mix, it's sensational stuff, especially a tax scandal. As David points out, the press doesn't understand the workings of what we do. For as squeaky clean they want everyone else to be, politicians, us, etc., I seriously doubt some of them report all of their income and certainly take advantage of the tax code for their benefit. I mean, how many discussions have we seen on TV anchors and reporters wardrobes, makeup, etc., for crying out loud? But this also demonstrates politicians from both parties are not immune these "scandals". Tom | |
