Articles by Teresa Ambord

Tax

NFL vs. Cleveland Tax Authorities: 3rd Down

Two football players continue to try to make their case that the city of Cleveland improperly taxed their income.
Tax

Celebs Talk a Big Game, But Will They Pay More Taxes?

Who wants to pay more taxes? If you’re waiting for a punch line, forget about it. With tax time underway, there will be a lineup of wealthy people, mostly celebrities, saying, “Please tax me more!” However, in many cases, their words don’t match their actions.
Tax

Olympic Medal Dreams: All That Glitters Is Taxable

Winning a medal in the Winter Olympics is not extremely lucrative for US athletes, with $25,000 awarded for gold, $15,000 for silver, and $10,000 for bronze. And that prize money is taxable by Uncle Sam. Even those with the lowest incomes will pay at least 10 percent to the IRS, and maybe more in state taxes.
Tax

Ohio Board of Tax Appeals Says No Relief for Two Former NFL Players

Two former pro football players, Hunter Hillenmeyer and Jeff Saturday, recently lost their individual cases before the Ohio Board of Tax Appeals last month. The board ruled that the games-played method of taxation the city of Cleveland uses does not violate the state’s constitution and is not unreasonable.
Tax

Super Bowl Money and Tax Facts You May Not Know

NFL players are well-paid, even the rookies. But the biggest winners this year – the Denver Broncos and the Seattle Seahawks – are playing in the Super Bowl this weekend. However, all of the Denver and Seattle players will owe the state of New Jersey taxes, thanks to the “jock tax.”
Tax

Film Credits: Your Tax Dollars at Work Making Movies

Federal film credits are not new, but they are becoming big business in more ways than one. Approximately forty states receive federal film credits they can use to entice moviemakers to make motion pictures within their borders.
Tax

Free Car! Except for the Taxes…Is That Price Right?

The biggest winner in the long history of "The Price is Right" … that’s what the media is calling Sheree Heil of Tacoma, Washington.
Community News

Accountant Caught with Hand in the Pearl Jam Jar

Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam.
Tax

What a Difference a State Makes for Baseball All-Star Robinson Cano

It's official. New York Yankee Robinson Cano will soon switch coasts as a result of the contract that he signed with the Seattle Mariners. Both teams wanted the five-time All-Star second baseman, and both made nice offers.
Tax

Illegal but Taxable: Medical Marijuana Farming

Under federal law, income from growing medical marijuana is ill-gotten gain. It is, however, taxable, as is all income. In some states, growing cannabis is legal for medical purposes and in Colorado, it's legal – period.
Tax

Bernie Madoff Cried as His Empire Toppled

The name Bernard Madoff has become synonymous with investment scams after his firm defrauded investors of $20 billion in investments and $47 billion in fake profit his clients believed they had.
Tax

Boxer Manny Pacquiao Now Cornered by Two Tax Opponents

Boxer Manny Pacquiao had enough troubles holding off the tax authorities in his Filipino homeland. The BIR of the Republic of Philippines said he owed an enormous tax bill relating to income he earned fighting US matches in 2008 and 2009.
Tax

Virginia Married Gay Couples Face Tax Dilemma

The Virginia Department of Taxation says it cannot legally allow same-sex married couples who are residents of Virginia to file their state tax returns using the married/joint status.
Tax

Who Knew? Donating Body Parts Is a Taxable Event

Mark Parisi wasn't kidding when he said he would give a testicle to own a shiny new car. That is, for donating his testicle, he expects to receive a "standard fee" of $35,000 with which he plans to buy a car. He just wanted to know if the transaction was taxable.
Tax

NFL Players Call Personal Tax Foul on Cleveland

As professional athletes' salaries continue to escalate, several revenue-strapped states seem to be looking to the athletes for a solution. Two NFL players are crying foul and taking one major city to court.
Tax

Seizing Private Assets to Enhance Fed Budgets?

Some are wondering if federal agencies are seizing private assets on flimsy evidence to beef up their budgets. In 1985, about $27 million assets were seized. That's no small amount, but leap forward to 2012, when the amount skyrocketed to $4 billion.
Tax

Ultra-Wealthy OK with California's High Tax?

Are the superrich leaving California? Despite the big talk, the ultra-wealthy don't seem to be going anywhere. But that doesn't mean the state isn't losing income and jobs.