Reality Surf Check

Because the Inside of the Surf Industry Looks Different from the Outside

Saturday, December 10, 2005

Sunny Garcia's White Collar Wipeout
A Brief Critique of the Interview in the New "Pro" Surfer Magazine

Please excuse Sunny Garcia for trusting CPAs and financial managers who ruined his standing as a law-abiding, tax-paying citizen of the US. According to his own words published in a Chris Mauro/Surfer interview, he "...might have to go to jail."

Partial kudos to Mauro (an RSC first) for turning up the heat on Garcia in the interview and publishing quotes of Garcia describing his plight with back-taxes and how he has an IRS agent is up his ass.

Garcia explains to Mauro how he got screwed over by trusting his manager and CPA and how it's their fault. RSC calls bullshit but credits Mauro and his BBA (Bro-Brah Association) constituents for at least printing something less than favorable about one of their own.

Certified Public Accountants are credentialed professionals and are held to ethical standards of conduct. While it is very true that some CPAs have breached their fiduciary responsibilities in the name of a few ill-gotten gains, it is totally false and untrue to suggest that Garcia’s IOU to Uncle Sam is somehow the responsibility of someone other than himself. It's also absurd to suggest that anyone with half a brain would turn sideways on a high-ranking member of Da Hui. But Garcia implies that these suits were out to fuck him.

If I was the IRS agent I would ask:
1) Have you reported every dollar of income ever paid to you? (I doubt it)
2) Have you saved every form 1099 and/or W-4 statement ever mailed to you? (What is that?)
3) Have you changed addresses in the past five years?

Garcia says it was some dickhead manager and/or CPA who supposedly mislead him out of malice. No, Sunny. You need to be more honest with yourself and not blame some suits for your own ignorance and irresponsibility. RSM is convinced that Sunny Garcia is a deadbeat. Furthermore, regarding his difficulties with the US Department of Treasury, the former world champ needs to know that paying taxes on current income is the sole responsibility of everyone who earns it.

Messing up on taxes is a pretty common mistake for a young, successful athlete like Garcia and mostly forgivable. However, blaming educated, experienced and licensed professionals for deception and malice is something only a dirt bag like Garcia would do. It's quite cowardice and very well aligned with ignorance. If Garcia’s financial advisors broke the law, they should be prosecuted. Likewise for Garcia.

Here's a lesson kids: It's much better to be smart and accountable than to be tough and ignorant, even if you're a world champion.


-Scotty Breauxman

1 Comments:

At 12:39 PM, Anonymous Anonymous said...

Garcia is a bully and a badass. But he's a total coward for blaming his tax problems on others. It's a royal copout. If Garcia was a man, he'd admit his mistakes and move on. He's more likely to go broke than go to jail.

 

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