STS Personal Financial Service Inc

05/30/2026

05/29/2026

Small businesses were hit hard by the COVID shutdown, and then again when fraudsters stole billions from the pandemic relief programs meant to help them get back on their feet. We owe it to the taxpayers and the hardworking men and women of Main Street to deliver accountability for eve...

05/21/2026

Why it is important to have a good financial team on your side? Celebrities are not exempt from paying taxes and neither are you.

(I pulled this info right off Google. AI responses may include mistakes.)

There is no exact figure or public database tracking exactly how many celebrities currently owe the IRS money at any given time. Because tax debts, liens, and settlements are considered private financial records, only public cases, leaked documents, or high-profile bankruptcy filings reveal who owes money.

Throughout recent years, dozens of high-profile actors, musicians, and athletes have been publicly linked to staggering tax debts. Because entertainers often juggle multiple income streams, complicated business ventures, or rely heavily on financial managers, IRS issues are relatively common. Notable examples include:

• Nicolas Cage: Once notoriously owed the IRS roughly $14 million.

• Chris Tucker: Accumulated an alleged tax debt of $9 million over several years.

• Ozzy and Sharon Osbourne: Owed the IRS over $2 million, which led to a tax lien on their home.

• Willie Nelson: Owed the IRS millions, resulting in a famous legal settlement. He famously paid off a large portion of the debt by releasing an album titled The IRS Tapes: Who'll Buy My Memories?

• Lionel Richie: Faced a $1.1 million IRS tax lien.

• Ja Rule: Sentenced to over two years in federal prison and ordered to pay $1.1 million in back taxes.

• Wesley Snipes: Served over two years in federal prison for tax evasion related to his tax obligations.

Celebrities typically resolve these issues by establishing payment plans, liquidating assets, or filing for bankruptcy to settle their debts. Those who fail to resolve or file their returns risk facing criminal charges or prison time.

Many celebrities try to live above the rest of us, but they are subject to the same tax laws that everyone else is.

05/21/2026

🚨 BOOKKEEPING FUN FACT 🚨 Bookkeepers can tell when a business is struggling just by looking at the bank feed for 5 minutes. 👀😂 Things that raise immediate concern: ❌ Amazon purchases labeled “office supplies” ❌ 47 uncategorized Venmo transactions ❌ Starbucks being coded to “e...

05/18/2026

Are you looking for a business investor? There are 300+ Small Business Investment Companies licensed by SBA that can help you take your business to the next level. Find an SBIC: https://lnkd.in/efBj2_rq

05/10/2026

Important IRS Scam Alert for Taxpayers Recently, several of my clients experienced a similar situation. They received an IRS Notice CP53E stating that their 2025 Form 1040 refund could not be direct deposited because of an issue with their bank information. At first glance, the notice looked officia...

05/09/2026

During , the IRS wants to make sure your business is protected from natural disasters by backing up records and securing important ...

05/01/2026

YT Overview:
“The Freedman’s Bank: How White Trustees Stole $3 Million From 61,000 Black Americans”

In this shocking and heartbreaking story, we uncover the untold tale of the Freedman’s Bank, a financial institution created after the Civil War to help newly freed Black Americans manage their money and build wealth. Established with good intentions, it quickly became a tool of exploitation. White trustees, entrusted with the responsibility of safeguarding the savings of over 61,000 Black Americans, instead stole an estimated $3 million—destroying the financial security of many families and denying them the opportunity to prosper after the devastation of slavery.

This story reveals the systematic theft that took place within the Freedman’s Bank and the lasting impact it had on the Black community in post-Civil War America.

💡 In this video, you’ll discover:
• The origins of the Freedman’s Bank and its initial mission to empower freed slaves
• How white trustees took advantage of the bank and stole millions from Black depositors
• The impact this theft had on the Black community’s financial stability
• The legacy of the Freedman’s Bank scandal and its role in the history of systemic racism

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247 likes, 35 comments. "The Freedman's Bank: How White Trustees Stole $3 Million From 61,000 Black Americans"

04/23/2026

As of April 2026, Bill Gates' net worth is estimated to be approximately $103 billion to $107.7 billion. Warren Buffett's net worth is estimated to be approximately $140 billion to $150 billion. The world population is approximately 8.3 billion people as of April 2026.

If they became financially liquid, these 2 men combined could literally pay off so many world debts by themselves. This is not realistically feasible though. Net worth does not equal billions in the bank account (cash on hand).

NETWORTH
Net worth is the total value of everything you own (assets) minus everything you owe (liabilities). It is a snapshot of your overall financial health, indicating whether you are accumulating wealth or accumulating debt. A positive net worth means assets exceed debts, while negative net worth means debts exceed assets.

LIQUIDITY
Financial liquidity is the ease and speed with which an asset or security can be converted into ready cash without significantly affecting its market price. It measures the ability of individuals or businesses to meet short-term financial obligations (liabilities) using available liquid assets like cash, bank deposits, or readily marketable securities.

04/22/2026

In 2025 a bank teller at the Troy, Michigan PNC bank branch was arrested and charged with embezzlement-financial institutions, a 20-year felony, and two counts of taxes-failure to file/false return/payment, a five-year felony. She managed to withdraw $80,000 between June 2023 and May 2024 from multiple customer accounts and didn't report the income on her tax returns.

EMBEZZLEMENT

Embezzlement is the unlawful misappropriation of assets by someone trusted to manage them, often involving fraud, theft, or manipulation of records. Common examples include employees creating "ghost employees" on payroll, diverting company funds to personal accounts, falsifying expense reports, skimming cash before recording sales, and using corporate credit cards for personal luxury items.