Sievers Sidebar #4

[MsJosie]

I wonder if the $80,000.00 also included being, the 'child sitter', house manager, cook, etc. at the house! I can see MS throwing that in to say, "see I work all day making sure the girls are taken care of, home schooling them, taking them to sports, paying the house bills, so let throw all that in and make my salary $80,000.00 to cover both 'JOBS'.

I know of a few people that do this!

 

[MsJosie]

The Jarvis house still sits unattended.... grass growing, etc. My real estate friend said it looks like 'a foreclosure'. A shame for the neighbors.

Thanks for the info. That would explain the men in suits going around the property some weeks back and may be the shutting off of the electricity. I hope the girls were able not get out anything they needed and any pictures of their mom they wanted to keep. My friend said in some states, that anything can be sold except for legal papers, personally items such as scrap books and pictures....that is usually held back for some time hoping the owner or family member will come and get it.

I think anything of real value MS sold....maybe to the guy in the purple truck! BS does not have space in her house unless she has a storage locker somewhere and is storing some of the items she took or MS moved before his arrest. I wonder if LE even thought to see if BS has any type of storage locker....may find some items of interest there.

 

[human]

Here are some answers and questions re taxes and biz. It does not sound like there is an advantage to hiring a spouse. They would have been better off to hire someone else at market rate and out the surplus into a retirement account. That is how I read it

https://www.biggerpockets.com/forum...ying-your-spouse-a-salary-under-your-own-llc-

 

[msboo]

Here are some answers and questions re taxes and biz. It does not sound like there is an advantage to hiring a spouse. They would have been better off to hire someone else at market rate and out the surplus into a retirement account. That is how I read it

https://www.biggerpockets.com/forum...ying-your-spouse-a-salary-under-your-own-llc-

What ever would've worked best tax-wise, their cpa would've done if he was qualified vs like Attny Mummert. You can move money around within legal boundaries but if careless you can suffer a non-social visit Mr Tax Man. When ever & where ever possible... (JMO) MS was probably stealing & stashing.
As far as the now vacant house, Mercedes sitting in the garage ?, 2013 tax lien on Jarvis & at least 1 pending lawsuit from 5/29/2009, as recorded, apparently still active as it was modified on 5/31/2016, not to mention student loans AND I dare to say no tellin' what else.... I assume this 'stuff' will remain stagnant until MS conviction. Can the bank(s) get to a point where they can force foreclosure on the house IF MS refuses to sign over. He can't make house payments, etc since he has no income, in or out of jail. AND student loans since TS is deceased..... would that have to be satisfied thru her life ins or not?

IMPORTANT: Sievers taxes would depend on info they or MS actually gave to their cpa to report. If cpa was given everything and it was correct.

 

[FelicityLemon]

I wonder if the $80,000.00 also included being, the 'child sitter', house manager, cook, etc. at the house! I can see MS throwing that in to say, "see I work all day making sure the girls are taken care of, home schooling them, taking them to sports, paying the house bills, so let throw all that in and make my salary $80,000.00 to cover both 'JOBS'.

I know of a few people that do this!

Well, he did far less work than the average stay at home mom does as a matter of course. Moms getting paid for it sure no problem absolutely, but that's a subject for another time because I'm focusing on MS. The following are my opinion only and your mileage may vary.

Homeschool was 12 hours per week, but

He didn't school them, they paid a tutor.
He didn't clean the pool, they paid a pool cleaner.
He didn't do any yard work, they paid a gardener.
He did very little cooking, they paid either a caterer/chef or a restaurant
He didn't clean the house, they paid a housecleaner.


He did grocery shop.
He did take care of/tightly control his own children; imagine taking care of your own children just like moms have done forever. That includes chauffeuring them to private lessons, organizing playdates for both children (and his own adult playdates)
He did control all the finances including giving TS back SOME her own money - when necessary. huh.

They should have paid:
A professional accountant
A professional tax preparer

They should NOT have paid:
A house cleaner
A pool cleaner
A gardener

*** These are incomplete lists, but I know I'd get reamed here if I listed their other expenses that I consider unnecessary. However, I feel confident TS would never have agreed to spend the money that they did had she known the truth about the state of their finances. ***

I hate to think of how gutted she must have felt when she discovered the potential IRS lien on their home.

Question for tax peeps: do you think the lien was on their home because it had the most free equity as opposed to other properties that had two mortgages?

 

[human]

What ever would've worked best tax-wise, their cpa would've done if he was qualified vs like Attny Mummert. You can move money around within legal boundaries but if careless you can suffer a non-social visit Mr Tax Man. When ever & where ever possible... (JMO) MS was probably stealing & stashing.
As far as the now vacant house, Mercedes sitting in the garage ?, 2013 tax lien on Jarvis & at least 1 pending lawsuit from 5/29/2009, as recorded, apparently still active as it was modified on 5/31/2016, not to mention student loans AND I dare to say no tellin' what else.... I assume this 'stuff' will remain stagnant until MS conviction. Can the bank(s) get to a point where they can force foreclosure on the house IF MS refuses to sign over. He can't make house payments, etc since he has no income, in or out of jail. AND student loans since TS is deceased..... would that have to be satisfied thru her life ins or not?

IMPORTANT: Sievers taxes would depend on info they or MS actually gave to their cpa to report. If cpa was given everything and it was correct.

I assume the CPA would sign off on the taxes, Would someone do that if info was lies?

 

[DexterMorgan]

If MS was drawing 80k a year, TS must have been drawing more as the DR. in the business. (?)

They should not have had any financial problems with such a profitable business.

I think the 80k (on paper only) salary was to help benefit the chances of getting bigger home loans and other loans. The banks love to see a 80k/yr hubby with a 160k/yr wife. Even if its only on paper.

This makes it easier to get a 70k loan or 400k home financing if needed.

Add that to a couple of good credit cards and banks are wanting your business.

But I truly think the 80k was on paper only for loans and life insurance purposes on his part. Idk

 

[Wyle_E_Coyote]

I assume the CPA would sign off on the taxes, Would someone do that if info was lies?

The CPA can rely on the client's information, unless it is blatantly false. Then the CPA would likely fire the client. Then, of course, the client will go to another CPA. Lather, rinse, repeat.

Sent from my SM-N920V using Tapatalk

 

[Wyle_E_Coyote]

Question for tax peeps: do you think the lien was on their home because it had the most free equity as opposed to other properties that had two mortgages?

Snipped for focus

Since the home address most likely was the address on their tax return, it was probably just the easiest to find.

Sent from my SM-N920V using Tapatalk

 

[FelicityLemon]

I assume the CPA would sign off on the taxes, Would someone do that if info was lies?

Yes it can happen, but only if the client lies to the CPA. I worked for a long-time tax preparer for a few years. He told he me he didn't want to become a CPA because they carry much more responsibility for the returns they prepare. By merely being a licensed tax preparer, the ultimate responsibility lies with the individual who signs the return. Meaning, you lie to your tax preparer and you sign the return, you can't blame the preparer since he used your figures.

 

[DexterMorgan]

Yes it can happen, but only if the client lies to the CPA. I worked for a long-time tax preparer for a few years. He told he me he didn't want to become a CPA because they carry much more responsibility for the returns they prepare. By merely being a licensed tax preparer, the ultimate responsibility lies with the individual who signs the return. Meaning, you lie to your tax preparer and you sign the return, you can't blame the preparer since he used your figures.

Agree. Especially with a cash business. Now if Mark was making 80k plus other employees pay plus Teresa's pay; Then the practice would have to show 250k a year in cash payments that didn't involve being all paid by medical coverage.

So you definitely would need a good tax person.

 

[msboo]

I assume the CPA would sign off on the taxes, Would someone do that if info was lies?

The client signs the tax forms prior to sending in therefore it's the clients responsibility for correct reporting.

 

[human]

Yes it can happen, but only if the client lies to the CPA. I worked for a long-time tax preparer for a few years. He told he me he didn't want to become a CPA because they carry much more responsibility for the returns they prepare. By merely being a licensed tax preparer, the ultimate responsibility lies with the individual who signs the return. Meaning, you lie to your tax preparer and you sign the return, you can't blame the preparer since he used your figures.

The tax preparer also signs the return, I think?

 

[human]

http://www.americanbar.org/groups/taxation/resources/taxtips4u/filing.html

The law requires that a paid preparer must sign the tax return and complete the preparer areas of the form. If the preparer is reluctant to sign the return, take that as a warning. Keep the return and your supporting financial records in a safe place for at least 3 years.

 

[msboo]

I think the 80k (on paper only) salary was to help benefit the chances of getting bigger home loans and other loans. The banks love to see a 80k/yr hubby with a 160k/yr wife. Even if its only on paper.

This makes it easier to get a 70k loan or 400k home financing if needed.

Add that to a couple of good credit cards and banks are wanting your business.

But I truly think the 80k was on paper only for loans and life insurance purposes on his part. Idk

True & still today regarding loans to doctors although banking has changed lots since when Sievers got their Jarvis mortgage in 2005. Lenders were making tons of loans before then up thru 08 or 09 to people who really could not qualify, they were even told to literally 'make up" their income on loan docs. Big mess in the end. Today the banks still 'line up' for giving new doctors nice home loans that include their student loans..... most doctors will succeed therefore a good risk.

If MS was messing with office income, payroll, operating expenses, etc in documents that would be given to a cpa..... that's DISASTER.

 

[DexterMorgan]

Imo. The motive is 4.4 million and not about a specific mistress.

So the Prosecution should keep it simple. Making Curtis seem credible will be a task of its own. I just hope Curtis has good evidence to back his claim. Because he is no saint. Jmo.

Jmo.

But that new shed that MS got for him while owing big money to the banks and irs is very telling.

That shed may be the death of Mark. We should hold his execution there as well. Lol. Jmo.

 

[msboo]

Imo. The motive is 4.4 million and not about a specific mistress.

So the Prosecution should keep it simple. Making Curtis seem credible will be a task of its own. I just hope Curtis has good evidence to back his claim. Because he is no saint. Jmo.

Jmo.

But that new shed that MS got for him while owing big money to the banks and irs is very telling.

That shed may be the death of Mark. We should hold his execution there as well. Lol. Jmo.

JMO... surely LE has/had so much correlating evidence that was considered while constructing that plea deal OR it would be in vain. Would think JRR would testify against MS. So much is still not public knowledge. All seems to have been quiet regarding JRR---we don't know what JRR may have told LE that correlates with CWW statements to be used against MS. Waiting, waiting & anxious.

 

[mikeinmo]

Imo. The motive is 4.4 million and not about a specific mistress.

So the Prosecution should keep it simple. Making Curtis seem credible will be a task of its own. I just hope Curtis has good evidence to back his claim. Because he is no saint. Jmo.

Jmo.

But that new shed that MS got for him while owing big money to the banks and irs is very telling.

That shed may be the death of Mark. We should hold his execution there as well. Lol. Jmo.

along with the shed do not forget the vehicle JRR bought also the old adage "follow the money"

 

[AlwaysShocked]

Just curious, we have not seen any documents that verify that MS paid for that shed, have we? By now LE likely knows everything he paid for by credit card for the past several years. I suppose it would be possible for him to have paid cash for the shed - he was stockpiling all that cash in the safe for some purpose.

 

[mikeinmo]

Just curious, we have not seen any documents that verify that MS paid for that shed, have we? By now LE likely knows everything he paid for by credit card for the past several years. I suppose it would be possible for him to have paid cash for the shed - he was stockpiling all that cash in the safe for some purpose.

seriously doubt that MS would put CWW's shed on his CC or checking account suspect more so that was paid at time of wedding or before.... cannot find out when shed was bought or how it was paid for and or who purchased it