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Poor Return Preparation Kills Facade Easement Tax Deduction

Poor Return Preparation Kills Facade Easement Tax Deduction

The Tax Court opened the new year with a charitable easement decision.  It is pretty disappointing.  Charitable easements are a great area of creative abuse, but David and Kathryn Gemperle weren’t up to anything wicked.  Instead they lost from poor return...
Tax Foundation Scores Ben Carson Tax Plan

Tax Foundation Scores Ben Carson Tax Plan

The Tax Foundation is out with its analysis of Dr. Ben Carson’s tax plan.Tax Foundation scores it with a ten-year $5.6 trillion revenue loss on a static basis and a $2.5 trillion loss on a dynamic basis. (The dynamic scoring takes into account the positive...
Tax Court Sorts Out Basis On Russian Fast Food Merger

Tax Court Sorts Out Basis On Russian Fast Food Merger

I could not pass up the Tax Court decision in the case of Michael Tseytin.  There are some big dollars in the underlying transaction – over $23 million in cash proceeds in a merger with a total value of $54 million.  Mr. Teseytin controlled US Strategies Inc...