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Cocaine Ponzi Schemes And Tax Prep – Not A Good Mix

Cocaine Ponzi Schemes And Tax Prep – Not A Good Mix

by | Jun 18, 2014 | Tax

Originally published on Forbes.com June 18th, 2014 Here’s a tip if you are seeking to get started as a tax preparer.  Don’t go to work for somebody who also distributes cocaine and runs a Ponzi scheme. That is probably the real reason that Frances Carlson...
Paul Reddam’s KPMG Tax Shelter Stunk In More Ways Than One

Paul Reddam’s KPMG Tax Shelter Stunk In More Ways Than One

by | Jun 17, 2014 | Tax

Originally published on Forbes.com June 17th, 2014 J. Paul Reddam, whose horse, “I’ll Have Another”, won two legs of the Triple Crown in 2012, just got some bad news from the Ninth Circuit.  The Tax Court decision that upheld the denial of his...
Personal Goodwill Avoids Corporate Tax Exposure

Personal Goodwill Avoids Corporate Tax Exposure

by | Jun 13, 2014 | Tax

Originally published on Forbes.com June 13th, 2014 The IRS does not like the concept of “personal goodwill”, but courts have often approved it.  In the Tax Court decision in the case of Bross Trucking, the concept was confirmed again, helping to save the...

Will National Grid Try Dumping Its Electrons Into Boston Harbor?

by | Jun 12, 2014 | Tax

Originally published on Forbes.com June 12th, 2014 Here in Massachusetts, we dealt rather harshly with the British taxing our tea.  Now Massachusetts is getting some taxes from a UK company (National Grid) that has been transmitting our electrons. Kind of ironic.  In...
Your Son The Lawyer Should Not Be Your Exchange Facilitator

Your Son The Lawyer Should Not Be Your Exchange Facilitator

by | Jun 11, 2014 | Tax

Originally published on Forbes.com June 11th, 2014 It is very sad to see someone getting hammered by two non-recognition provisions in the same case, but that is what happened to Frank Blangiardo in a recent Tax Court decision.  Code Section 1031  (like-kind exchange)...