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Charitable Acknowledgment Requirement is Absolute

Charitable Acknowledgment Requirement is Absolute

Originally Published on forbes.com on July 29th, 2011 ______________________________________ In compliance matters, there are some things that you cannot emphasize enough.  One of them is that for donations over $250 you need a contemporaneous acknowledgment from the...
Thomas More Law Center Appeals Obamacare To Supreme Court

Thomas More Law Center Appeals Obamacare To Supreme Court

Originally Published on forbes.com on July 28th, 2011 ______________________________________ Earlier this month I reported on the decision in the suit by Thomas More Law Center against the Patient Protection and Affordable Care Act, which is derisively referred to as...
Covenant Not To Compete – Not Good for Seller or Buyer

Covenant Not To Compete – Not Good for Seller or Buyer

Originally Published on forbes.com on July 28th, 2011 ______________________________________ I used to really like the word “covenant”.  It had a certain majestic ring to it.  Then Congress enacted Code Section 197 and I stopped liking it so much, particularly when it...
Drag Racing and Amway – Fun Not Profit

Drag Racing and Amway – Fun Not Profit

Originally Published on forbes.com on July 26th, 2011 ______________________________________ The case of Richard Zenzen is the most recent “hobby loss” case that I have seen.  Mr. Zenzen seems to have had an appreciation for fast cars and an ability to work on them:...
You Can Be Two Places at Once if One of Them is New York

You Can Be Two Places at Once if One of Them is New York

Originally Published on forbes.com on July 25th, 2011 ______________________________________ Most states and a few cities tax their residents on their world-wide income.  They tax non-residents on the money that the non-residents earn in that state.  Typically the...