Tax - Your Tax Matters Partner

F. Lee Bailey Bankruptcy Rooted In Poor Record Keeping

by admin | Jun 28, 2016 | Tax

Originally published on Forbes.com. The F. Lee Bailey bankruptcy discussed in the Washington Post is not much of a surprise to me. F. Lee Bailey’s resumption of his pre-Sam Shephard practice of tax litigation, this time on his own behalf lit up the tax...

Tax Court Denies Amway Losses Due To Lack Of Profit Motive

by admin | Jun 25, 2016 | Tax

Originally published on Forbes.com. I was surprised to see that I haven’t written about an Amway case in over two years. Well, a new one came out this week and James E. Hess, like pretty much every taxpayer who has ever disputed disallowance of Amway losses in...

Donor-Advised Funds: The Good, The Bad And The Ugly

by admin | Jun 24, 2016 | Tax

The Seven Corporal Works of Mercy Originally published on Forbes.com. The New York Review of Books article The Undermining of American Charity is a good example of a somewhat arcane tax story that really deserves to break out of the tax ghetto. What the authors, noted...

Deep Discount From Asset Values In Family Limited Partnership Valuation

by admin | Jun 23, 2016 | Tax

Originally published on Forbes.com. Nearly five years ago I wrote about the Tax Court decision in Estate of Natale B. Giustina as an illustration of what a great valuation deal you can get using a family limited partnership. The Giustina Land and Timber Company...

Form 1099-R From Insurance Company Can Be Bad Tax News

by admin | Jun 21, 2016 | Tax

Originally published on Forbes.com. Life insurance is actually a rather sweet tax deal. That is why I find it so distressing when someone manages to use life insurance to manufacture phantom income for themselves that produces a tax liability that is quite real. Such...

Taxes Ogres And Onions In Gramercy Herald Square Transfer Tax Case

by admin | Jun 18, 2016 | Tax

Originally published on Forbes.com. When I spoke with Ken Weissenberg about GKK 2 LLC’s appeal of its Real Estate Transfer Tax, his best comment was that ]taxes, like ogres are like onions. Ken is Partner-in-Charge of the Real Estate Services Group of...