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IRS Drubbed In Tax Court On Partnership Interest Deductions

IRS Drubbed In Tax Court On Partnership Interest Deductions

Originally published on Forbes.com. Whether and how and when you can deduct interest is largely based on how the money you borrowed was spent.  The tracing rulings that follow the borrowed proceeds are pretty challenging.  Most of us just try to do the best we can....

The Beast I Found In The Park

There are things that annoy me a lot.  People mixing up principal and principle or e.g. and i.e. American flags touching the ground or continued being flown after they have reached the point where they need to be respectfully retired.  Near the top of my list though...
Rubber Hitting The Road On New Partnership Audit Regime

Rubber Hitting The Road On New Partnership Audit Regime

Originally published on Forbes.com. Partnership returns have a new election to consider this year.  Question 25 on Page 3 of Form 1065. Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? You have had four years to be...