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F. Lee Bailey Bankruptcy Rooted In Poor Record Keeping

F. Lee Bailey Bankruptcy Rooted In Poor Record Keeping

Originally published on Forbes.com. The F. Lee Bailey bankruptcy discussed in the Washington Post is not much of a surprise to me.  F. Lee Bailey’s resumption of his pre-Sam Shephard practice of tax litigation, this time on his own behalf lit up the tax...
Tax Court Denies Amway Losses Due To Lack Of Profit Motive

Tax Court Denies Amway Losses Due To Lack Of Profit Motive

Originally published on Forbes.com. I was surprised to see that I haven’t written about an Amway case in over two years.  Well, a new one came out this week and James E. Hess, like pretty much every taxpayer who has ever disputed disallowance of Amway losses in...

Donor-Advised Funds: The Good, The Bad And The Ugly

The Seven Corporal Works of Mercy Originally published on Forbes.com. The New York Review of Books article The Undermining of American Charity is a good example of a somewhat arcane tax story that really deserves to break out of the tax ghetto. What the authors, noted...
Form 1099-R From Insurance Company Can Be Bad Tax News

Form 1099-R From Insurance Company Can Be Bad Tax News

Originally published on Forbes.com. Life insurance is actually a rather sweet tax deal.  That is why I find it so distressing when someone manages to use life insurance to manufacture phantom income for themselves that produces a tax liability that is quite real. Such...