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Border paid officer’s compensation to Mr. Tedford and
petitioner during many of its fiscal years ending August 31,
1979, to August 31, 1993. The amount of officer’s compensation
that Mr. Tedford and petitioner received varied greatly in the
years it was paid.
Mr. Tedford and petitioner’s daughter, Deborah Williams (Ms.
Williams), was also employed by Border. Ms. Williams started
taking care of general office duties and payroll for Border in
1988. Over time Ms. Williams took on more duties, including
assisting Mr. Tedford with personal activities. In 1994, Ms.
Williams became Border’s office manager and Mr. Tedford’s
personal assistant. As office manager, Ms. Williams was in
charge of billing and collection, keeping track of Border’s bank
account, and keeping track of the monetary transfers Mr. Tedford
made to Border.
James D. Edge (Mr. Edge) became Mr. Tedford and petitioner’s
C.P.A. in 1993 and became Border’s C.P.A. in 1994. Mr. Edge
prepared Border’s Federal income tax returns for fiscal years
1994-97. He also prepared petitioner’s Federal income tax
returns for 1993-2000. Before Mr. Edge’s involvement, another
C.P.A. assisted Mr. Tedford, petitioner, and Border with tax and
accounting matters. Mr. Edge is not a certified appraiser or an
appraisal expert.
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Last modified: May 25, 2011