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Breaking Up is Hard to Do

Breaking Up is Hard to Do

This was originally published on PAOO June 27, 2010. Gratisography at Pexels There are quite a few developments in the last few months I am hoping to spout about, but I am going to skip straight to PLR 201024005. The situation is not a common one, but it is a good...
The Magic of S Corporations – Tax Alchemy in Reverse

The Magic of S Corporations – Tax Alchemy in Reverse

This was orignially published on PAOO on June 21, 2010. I remember a time when we had an Internal Revenue Code that was almost as old as I was. The Internal Revenue Code of 1954. Thankfully they kept the numbering scheme intact. Back then we had real tax shelters....
Sometimes You Should Just Pay The Taxes

Sometimes You Should Just Pay The Taxes

This was originally published on PAOO on 6/17/10. Note this is the origin of Reilly’s Second Law of Tax Planning. Commercial Real Estate by Nick Youngson CC BY-SA 3.0 Alpha Stock Images PMTA 2010-05 PMTA 2010-05 is a reasonably taxpayer-friendly statement. It...
Steve Martin – Tax Advisor

Steve Martin – Tax Advisor

This was originally published on PAOO on 6/8/10. Private Letter Ruling 201016097 There is a bit that Steve Martin does where he tells you how to make a million dollars and pay no income tax. It’s a very simple plan. First you make one million dollars. Then you pay no...
Saint Patrick’s Day in May

Saint Patrick’s Day in May

This was originally published on PAOO on 5/17/10. This is a true story that happened last week. I’ve changed the names and locations to keep the people involved annonymous though. My friend James was in Jacksonville FL the other night. He was attending a...