Hughes money to Norman; gift or loan?

House of Norman
There is no consistency in reporting how the Normans came into possession of that $500,000 from Ralph Hughes for a lakefront home in Arkansas. 

Sometimes it is a gift, sometimes it is a loan, or even sometimes an un-repaid loan that somehow became a gift upon Hughes’ death.

If a loan, that money should be returned to the Hughes estate.
If a gift, that income should be reported for federal taxes.

 It isn’t enough that Jim Norman has finally signed a consent order admitting that he has lied since 2006 about this money; he says through his attorney that his admission of wrongdoing is also a lie in that he feels he could beat the rap in court.

So, in the best Florida political tradition, Jim Norman will not only get away with keeping these half-million dollars, but he will do it tax-free and out from under any cloud of wrongdoing.

Has anyone suggested his name for the VP slot on the GOP ticket?

<IMHO> Fred Jacobsen

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2 Responses to “Hughes money to Norman; gift or loan?”

  1. […] Hughes money to Norman; gift or loan? (verbumsapienti.wordpress.com) […]

  2. […] Hughes money to Norman; gift or loan? (verbumsapienti.wordpress.com) […]

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