People who own their own companies in Missouri and across the country often work hard to ensure their success. However, some people may accidentally make mistakes with the money that their business brings in — innocuous decisions that may not fully take into consideration the tax implications. Unfortunately, a business owner in another state has recently pleaded guilty to a charge of tax evasion.
The defendant in the case is the owner of a deli. Reports indicate that the criminal charges filed against the man are related to claims stemming from his 2012 and 2013 taxes related to his business. Federal law enforcement officials believe that he used several strategies to avoid paying federal taxes.
Reports accuse the man of failing to deposit the business’s cash receipts into business accounts and failing to report the cash as income. He is also accused of using business accounts to make personal purchases. For example, he reportedly deposited three checks from the business totally almost $300,000 into a personal investment account and then used those funds to purchase investments properties.
The 54-year-old man recently pleaded guilty to one count of tax evasion. He has agreed to pay back taxes totalling over $220,000 in addition to penalties and fees. Often, the criminal justice system at the state or federal level in Missouri can seem daunting to people who are facing criminal charges, prompting them to seek guidance from an experienced professional. Upon such consultation, some defendants may come to the conclusion that there is sufficient to convict them, potentially prompting them to plead guilty in exchange for favorable sentencing considerations; others choose to fight the formal accusations all the way through a jury trial..