January, 2017

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Professional Athletes With Tax Debt Problems

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Darryl Strawberry
Dodgers star, Darryl Strawberry first got in to trouble with the IRS in 1994 when he was put under investigation for tax fraud. The IRS tacked him with tax evasion, and he had to pay back $350,000 in back taxes, serve 3 years of probation, six years of home confinement, and complete 100 hours of community service.

2. Lawrence Taylor
Former Giants linebacker, Lawrence Taylor filed an incorrect federal income tax return back in 1990. Taylor pleaded guilty to the tax charges in 1997, and was punished with three months house arrest, five years probation and 500 hours of community service for income tax evasion.

3. Pete Rose
Baseball favorite, Pete Rose, also got in to some trouble with the government in 1990, when he filed a false income tax return. Despite his celebrity status, Rose was sentenced to five months in a correctional facility, three months in a community treatment center, 1,000 hours of community service and a $50,000 fine.

4. Helio Castroneves
The recent controversy around Indy 500 racer Helio Castroneves and his supposed $5 million tax debt has shed light on the tax problems sports stars can get in to. He is currently being tried for evading taxes on a licensing deal that he claims to never have received a dime from. Only time will tell whether the Indy 500 and dancing with the stars celebrity actually committed the tax crime.

5. Willie McCovey
Hall of Famer Willie McCovey, like many other athletes who ran in to tax trouble, did so by forgetting to claim cash made during autograph signing. While McCovey pleaded guilty to the crime, he also claimed to have committed it unknowingly, since he had a professional handle his accounting. He was sentenced to two years of probation and fined $5,000.

6. O.J. Simpson
Although infamous for more than his athletic abilities, O.J. Simpson upset the IRS enough to be put on the California tax shame list. His tax debt was over $1.5 million, and he stayed on the list for more than a year.

7. Jesse Owens
The late 1930s Olympic winner Jesse Owens got himself into trouble with the IRS. After the Olympics, Owens tried multiple business ventures in the United States to profit off his newly found fame. However, one of his ventures lost Owens a fortune and rendered him unable to pay his full tax liability. As a result, Owens was forced to declare bankruptcy.

8. Boris Becker
Famed tennis player and bad boy, Boris Becker, ran right in to tax trouble when it was discovered his apartment was not his priority residence, as previously claimed. As a result, he was given two years probation, fined $500,000, and ordered to pay expensive court fees.

Franchise Business Opportunities And Food In India

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Expanding of business at the same time involving interested entrepreneurs in the same has of late gained big momentum. Opening of chain outlets or stores no doubt add to the extensive market presence and an enhanced brand identity. But that involves a good amount of investment besides liability and other factors associated. This is where a franchise business comes into play. Franchising, the practice of using another firm’s successful business model, had been at a nascent stage for quite some time. Today, it is not only in India but also across the world that franchise business is gaining impetus. Offering franchise business opportunities, concerned companies not only see their business expand even beyond geographical boundaries but also get returns. No investment, no maintenance, no liabilities! The franchisor’s success is the success of the franchisees.

Explore the various segments where franchise business opportunities are offered, consider your interests and accordingly choose the right company. If you choose a reputed name, you can look forward towards making some big money in no time. Building a brand rapport takes time and when you get a brand the rapport of which is already built you do experience a win-win situation. You can opt going for a food franchise. Of course, you will have to invest for the set-up, food processing equipments, follow space and food menu conditions followed by the parent group, pay royalty, pay part of income generated and more. Compared to other segments, you need not invest big in a food franchise. You will have to consider the location. The better the location, the more lucrative will be your food franchise chosen.

When we speak of food in India, we cannot think of a counted few items. There are countless food items specific to each region; most of you must have not yet explored the regional food in the towns and villages of each state. Start exploring, especially if you are a travel freak and love exploring cultures. You will be surprised at the countless delicacies with each dish tasting different. Well, food in India commonly offered in the restaurants is same in the menu no matter which part of the country you visit. It can be South Indian food or North Indian food. And again food in India is not only limited to meals; there are sweets, snacks, chaat, namkeen, vegetable snacks, and more.

Those who have tasted South Indian food never let the taste disappear from their palate. Whether it is breakfast or lunch or dinner or supper, they would love to have any of the South Indian food items to appease their appetite. Right from plain dosa, masala dosa, onion rawa masala, rawa plain dosa, rawa masala dosa to plain uttapam, vada sambhar, mixed uttapam, sambhar idli, etc. you have a myriad range of options in the menu to choose from! It is not only in South India but across the country that you will find South Indian food in the restaurants.

California Pair Allegedly Conned Elderly Woman in a Financial Elder Abuse Case

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A California duo allegedly committed financial elder abuse by swindling an elderly mentally ill woman out of thousands of dollars. The defendants are a couple who reside in Riverside County. They allegedly befriended the elderly mentally ill woman and talked her into giving them money and goods. California elder abuse attorneys remind senior citizens that strangers who suddenly take an interest in your finances are not to be trusted.

The defendants in this case were arrested at their Lake Elsinore home. At the home, Ontario police found large quantities of furniture. The furniture was allegedly purchased with the senior citizens credit cards. Detectives claim that the couple convinced the senior citizen victim to open several credit card accounts, which were used to purchase the furniture. The furniture purchases added up to more than $36,000 dollars. California elder abuse attorneys say that families should keep an eye on senior family members to make sure they are not being conned.

In this case, the defendants allegedly also persuaded the senior citizen victim to withdraw $10,000 from her bank account. The elderly victim gave the money to the defendants and one of them allegedly spent the money at a Los Angeles area casino. The defendants were booked on suspicion of burglary, grand theft, financial elder abuse, and other felonies. Police are concerned that the defendants may have defrauded other elderly victims. California elder abuse attorneys say that financial elder abuse is on the rise nationwide.

Evans Law Firm, Inc. handles elder abuse, financial elder abuse, physical elder abuse, annuity fraud, consumer fraud class actions, insurance and banking fraud cases. If you think that you have witnessed or are the victim of elder abuse, or financial fraud then contact Evans Law Firm, Inc. at 415-441-8669 for a free and confidential consultation, or email us at

The Lifestyle Disorders Market Outlook to 2014 Reimbursement issues, market dynamics, pipeline compounds

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Lifestyle drugs have been a much debated segment of therapeutics for the pharmaceutical industry primarily due to the issues surrounding their inclusion in drug payment plans and diversion of resources for their research. These drugs have been a point of contention also because of a lack of clarity in defining them. For the purpose of this report, lifestyle diseases have been defined to include a range of indications that affect an individuals quality of life even though they may not be deemed a medical problem.

The market was led by the MDD therapeutic segment followed by hormonal contraceptives. The smallest indication among the lifestyle disorders was alcohol dependence. The overall market was $37.2bn but is forecast to decline, albeit with a low single digit CAGR over the 2008-14 period.

Lifestyle disorders are marked by slowed R&D process and limited investigational products though MDD reflects some differences to this scenario. Each of the therapeutic indication s considered in this report reflects a markedly different scenario that substantiates the investment case around them. For instance:

In the antidepressants market , the older antidepressants such as tricyclic s and monoamine oxidase inhibitors, have given way to agents that target metabolism, storage and release neurotransmitters such as serotonin and norepinephrine.
In case of obesity, compounds with novel mechanisms of action such as GLP-1 pathway, monoamine transmission, PTP-1B receptor and melanin system, are being investigated.
The hormonal contraceptives market is marked with little R&D that has led to gaps in contraceptive technology. The industry needs to invest in contraceptives with better side-effects profile to aid compliance.
Growth of the erectile dysfunction market would be determined by the market dynamics ensuing between Viagra, Cialis and Levitra.
In the smoking cessation market, growth prospects of the leading brands such as Pfizers Chantix, are likely to be determined by the markets response to the black box label warnings on neuropsychiatric effects, introduced in July 2009.

Key features of this report
Epidemiological analysis of the therapeutic segments and forecast prevalence over the period 2008-14
Forecasts and analysis of the key products in the lifestyle disorders market over the period 2008-14, across major classes of treatments
Overview of key events in the global lifestyle disorders market that have impacted treatment trends and sales potential.
Strategic and growth analysis of leading pharmaceutical corporations based on sales focus by drug class, currently marketed products and R&D product portfolios
Detailed analysis of the major classes of treatments across all the therapeutic segments analyzed in the report
Detailed analysis of the clinically differentiated products in the lifestyle disorders market pipeline and sales forecast of key R&D pipeline products in the global lifestyle disorders market

Learn More About Life Insurance Fraud

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Life insurance fraud refers to illegal acts committed by those buying or selling life insurance policies. In-vestopedia defines five different types of buyer life insurance fraud, from accidental suicides to falsifying medical records. Find out more and learn about two of the more famous cases of life insurance fraud.

Types of life insurance buyer fraud

Post-dated life insurance: a policy that is purchased after the death of the insured person but appears to have been issued before their death.

False medical history:Withholding information about existing medical conditions, whether or not you smoke etc constitutes one of the most common types of fraud. Coming clean with your provider might mean that your premiums are more expensive but this cannot outweigh the risk of reduced or rejected claims. It is not uncommon for unscrupulous doctors to falsify medical records on behalf of buyers.

Murder for proceeds: In this instance the insured person (spouse, business partner etc) is murdered for their life insurance cover or a policy is taken out in somebodys name without their knowledge and they are subsequently murdered for the life cover payout.

Lack of insurable interest: Insurable interest stipulates that in order to buy a life insurance policy in somebodys name you have to be able to prove that that persons death would cause you financial distress.

Suicidal accidents: This occurs when a person commits suicide but tries to make it look like an accident in order to ensure that their family can claim their life insurance cover.

Faking death or disability:It is not unheard of for someone to fake either death or disability to claim insur-ance payouts for themselves or their families. People have also created fake identities which have been killed or died with the family claiming life insurance payouts.

Famous cases of life insurance fraud
John Darwin, a British teacher and prison officer died in a canoeing accident in 2002 but was discovered alive and well and arrested five years later. His wife, who had claimed his life insurance payout, said he had been secretly living in their house and the house next door. Both were sentenced to over six years in prison.

In 2008 Helen Golay and Olga Rutterschmidt were convicted of the murders of two homeless men, Paul Vados in 1999 and Kenneth McDavid in 2005. Both murders were staged as hit and run accidents. Multimillion dollar life insurance policies had been taken out on the men by Golay and Rutterschmidt.

NJ Bankruptcy Attorneys and Loan Modification Lawyers Help Those in Financial Distress

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In these tough economic times, nearly anyone could fall into financial hardship. Regardless of the circumstances surrounding a person’s situation, financial obligations do not let up. Very easily, a person can feel too far behind to ever catch up.

Whether medical problems, extended unemployment, or other unforeseen circumstances are the cause of financial distress, loan modification lawyers can help. Loan modification lawyers can work with creditors to renegotiate the terms of a loan.

While loan modification lawyers in NJ may work in the same practice as bankruptcy attorneys, but generally have a different emphasis. Normally, loan modification lawyers seek to prevent bankruptcy or foreclosure.

Loan modification lawyers know that creditors, especially the holder of a home mortgage, want to avoid the bankruptcy and foreclosure process. If a NJ bank has to foreclose on a property and work with bankruptcy lawyers, they will lose a lot of money.

NJ bankruptcy lawyers and NJ bankruptcy attorneys know that the foreclosure process itself is very expensive, so most banks would like to avoid it if at all possible. Loan modification lawyers help take advantage of this fact to negotiate loan conditions that allow the client to meet payments.

Loan modification lawyers can help a client ask for smaller payments spread over a longer time, or for a lower interest rate. Taking this step can keep a client and family in their home, and can be a responsible step to take at the earlier stages of financial distress.

NJ bankruptcy attorneys can help clients if loan modification offers are rejected or were not sufficient to alleviate financial distress. If a person simply cannot meet his or her financial obligations, NJ bankruptcy attorneys can serve as guides through the bankruptcy process.

Like the loan modification experts, NJ bankruptcy attorneys can work to keep families in their homes. NJ bankruptcy lawyers, however, must work within the court system to meet this goal. Once in court, a judge must approve the NJ bankruptcy lawyer’s plan to pay debtors.

NJ bankruptcy lawyers can ask for different arrangements, depending on circumstances. They can request that payments be adjusted, or that debt be absolved with the sale of the property.

Unfortunately, without NJ bankruptcy attorneys or NJ bankruptcy lawyers, the process can be very complicated. NJ bankruptcy lawyers specialize in this legal area, and can simplify and explain all options and proceedings. Clients also appreciate NJ bankruptcy attorneys’ assistance with completing and submitting paperwork.

About Us:

At the Law Offices of Kasuri & Levy, LLC, we have over 45 years of experience. Our loan modification lawyers have an outstanding reputation, and are known for handling complex matters with a comforting and personalized touch. We focus on providing quality service to each client, rather than handling client matters with quantity in mind. Learn more at www.kasuriandlevy.com.

Debt Problem Warning Signs

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Many Americans have over spent during the last 3 years. It has created a major credit problem for most. Here are some important indicators to help you see if you are on the verge of major debt problems:

You have little or no savings – Very often, people fall into bankruptcy because they have some unexpected expense. If you have no savings built up, it means that any medical emergency, car accident or other unforeseen challenge will have to be paid for on credit.

You only make minimum payments on your credit card debt – When you only pay the minimum balance on your credit card debt, you are practically giving you money away to credit card companies, lenders and banks. You accrue the most interest on your credit card debt making minimum payments, and thus you really are not solving your debt problems.

You continue making credit card purchases, even though you are trying to pay off those same cards – If you were trying to bail the water out of a boat, you wouldn’t put it back into the ocean would you? The same logic applies to credit card debt; if you know you have a debt problem, put the plastic away until you can get the balance down to either zero or at least a manageable number.

You have at least one credit card or line of credit that is near or over its credit limit – A sure sign of a potentially major debt problem is when your lines of credit are all used up. If you do not have enough money in your paycheck to fund your expenses, and you have used up all of your credit lines, what will you turn to in order to make ends meet? Debt problems often begin to become obvious when a consumer has no money left just before rent is due, or a car payment. This is when you have nowhere to turn since all your credit cards are maxed out.

One last sign of debt problems is when you are occasionally late in making payments on your bills, your credit cards and other monthly expenses – Once you are late once, it becomes okay to be late a second time. Part of the snowball effect is when a consumer gets so overwhelmed with their debt problems that paying bills in general becomes too much. Soon enough, all of the mail begins to take on a pink tone (meaning Past Due notices) and potential debt problems become massive debt problems.

If you are wondering if your finances exhibit any warning signs of potential debt problems, check the above five warning signals. If one of more of these sounds familiar, you should immediately take stock of your finances and see where you can cut back, whether you can make more money or if you need some sort of outside assistance.

Dynamics Gp Partner Newsflash Tax Tables Update Service Overview

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Microsoft Dynamics GP, formerly known as Great Plains Dynamics and eEnterprise US Payroll module requires periodic payroll tax rates update. For large number of employees in your organization, especially when you have locations in multiple US states, you probably want to do quarterly tax update. If you are current with Microsoft Business Solutions annual support plan, you have access to Payroll Tax update utilities through your GP Customer Source. If you are no longer enrolled in annual support plan, you should check with your current Dynamics GP VAR if your current Great Plains version is still supported and you could receive Tax Updates from your GP Reseller. In this small publication we would like to give you the idea on limited payroll tax update service for old versions of Great Plains Dynamics GP:

1.Payroll Tax Rate Tables in Dynamics database. Tax rates are stored in system database of Great Plains, which is Dynamics. So, updates is done only once on the system level, and it should take effect immediately for all your companies

2.Limitations of Tax Update for old versions. GP versions 8.0, 7.5, 7.0, 6.0, 5.5, 5.0, 4.0 and earlier are no longer supported by Microsoft and Payroll Tax update download is not available for these versions. However, you should expect that some of the States changed their Tax calculation formulae and it is not possible to use old formulas, incorporated in Dynamics.DIC business rules logic. At this time we are aware about Missouri, so if your employees are there, please consider reenrolling to MBS support plan and upgrade your Dynamics GP to supported version 10.0 or 9.0. The other option would be to request GP Dexterity custom programming to update Tax Calculation formula in your old Great Plains version

3.Tax Rates Update Technology. We do understand your situation and we copy current tax rates to custom table and then from there we update your outdated tax tables in Dynamics database. This procedure typically requires four hours of Great Plains Technical Consultant time

4.Tax Update for Pervasive SQL and Ctree databases. This update requires some help from your IT department. Our preferred method is to use Microsoft SQL Server 2000 Enterprise Manager, create Linked Server to your Pervasive SQL or Ctree database, and update tax tables through heterogeneous SQL Update statement. If this is your case, please budget eight hours for the procedure. A bit more exotic case is when you host your Great Plains in Mac Faircom Server (Ctree)

Tips On How To Start An Investment Club

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Investment club is formed by a group of people who pool their money for joint investments. If you are a new to investing in stock market and have limited funds, starting an investment club is a great way to learn from other investors and get hands on experience in investing.

Here are some tips to starting an investment club.

1. Make sure all members understand the risks of investing. Many people who invest think they are going to be very successful, and are not prepared to lose all of their money. Unfortunately, there are no guarantees when it comes to the stock market. No one should invest money they are not willing to lose.

2. Find the right people who share the same investment objectives and goals. It is easier to get along with right minded people and learn from each other.

3. Make sure all club members agree to the partnership agreement and any other rules.

4. Join the National Association of Investors Corporation (NAIC) that provides support, information and tools on starting an investment club and investing, and publishes a monthly investor-learning magazine.

5. All members must agree to make a monthly contribution. The typical range of contribution is $20 to $100 a month. Members who contribute more than the required contribution are allowed greater share of profits.

6. Decide on how to meet and the frequency of meetings. For the initial setting up of the club, it may be best for everyone to meet in person. If all meetings are held online, it may be good to meet in person once or twice a year for social interaction. To keep up to date, it is recommended to meet 1-2 times a month.

7. Start with a small number of people. It is easier to come to an agreement when there are fewer members. When the club is established and all formal procedures are in place, new members can be invited to join.

8. Education is the main goal of an investment club. An investment club made up of educated investors will be more successful and cohesive than an investment club which is solely focused on making a profit.

9. Every investment club must have a well-defined investment style or investment philosophy. There must be clear selection criteria such as what type of stocks to invest, the acceptable risk tolerance level and rate of return. All club members should be aware of and agree to the investment style of the club.

Starting and running an investment club is an invaluable learning experience, where you can leverage on the expertise and knowledge of other investors. Investment clubs facilitate the exchange of ideas and collective decisions that are likely to produce sustainable returns.

Cholamandalam Travel Insurance Plans

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Indians are travelling like never before. Be it for leisure, business, further education or more, there is an estimated increase of 20% traffic travelling overseas every year. And a study shows that 80% of the travelers like to buy travel insurance policies online to ensure they are leaving their baggage of worries at home while they travel overseas.

There are many insurance companies offering travel insurance plans. Cholamandalam is one of the reliable travel insurance among these. Although most of the benefits arising out of Chola Travel Insurance are the same as others viz Medical Treatment, Repatriation of Remains, Dental Treatment, Checked Baggage Loss, Checked Baggage Delay, Passport Loss, Personal Liability, Hijack Relief Benefit, Hospital Daily Cash, Financial Emergency, Trip Cancellation, Trip Curtailment, Trip Delay, International Driving License Loss, Home Burglary, etc. However what sets Chola apart from others is:
Door-to-door Cover which means that your travel insurance starts the moment you leave your home for airport and ends when you return home from airport. Also it covers Personal Accident both overseas and domestic during your travel insurance validity.
Extensive network of hospitals and service providers all over the world.
Age Limit of family members starts from 3 months upto 80 years. No medical checkups are required for family members upto 65 years of age.
Pre-existing conditions are covered under life-saving unforeseen emergencies. Cholamandalam provides cover for any eventuality arising from a pre-existing condition.
Tie-up with I-SOS (the world-renowned International SOS) for Claims Processing and Assistance Services.

Besides the above listed benefits you get Toll-free phone numbers to contact the service provider from most frequently visited countries. The claims are settled fairly in a quick fashion. You just need to keep a copy of all the bills so that you can substantiate your claims and get timely reimbursement.

Cholamandalam insurance can be bought online at EIndiaInsurance. You can compare the insurance plan with other brands and can get a quote immediately. You can also speak to insurance agents on the phone to get complete information on the plan that you are interested in. Whenever buying an overseas travel insurance always remember to see what all is excluded and get complete clarity so that you know what you are paying for, what all it covers, what are its benefits and be sure if its worth your hard earned money or not. Last but not the least, do not just buy any travel insurance which is cheap coz you might have to shell money out of your pocket in the event of any unforeseen emergency which might not be covered under the cheap travel insurance plan. A few rupees more might just give you a complete peace of mind while you explore the other world. So travel, but with a good travel insurance plan in your backpack!