Tax - Your Tax Matters Partner

Poor Return Preparation Kills Facade Easement Tax Deduction

by admin | Jan 9, 2016 | Tax

The Tax Court opened the new year with a charitable easement decision. It is pretty disappointing. Charitable easements are a great area of creative abuse, but David and Kathryn Gemperle weren’t up to anything wicked. Instead they lost from poor return...

Tax Foundation Scores Ben Carson Tax Plan

by admin | Jan 6, 2016 | Tax

The Tax Foundation is out with its analysis of Dr. Ben Carson’s tax plan.Tax Foundation scores it with a ten-year $5.6 trillion revenue loss on a static basis and a $2.5 trillion loss on a dynamic basis. (The dynamic scoring takes into account the positive...

No Foreign Income Tax Exclusion For Army Civilian In Afghanistan

by admin | Jan 6, 2016 | Tax

Originally published on Forbes.com. “You have been in Afghanistan I perceive” is one of my favorite lines in literature, so I just can’t pass up a Tax Court decision that concerns service in Afghanistan. And then there is the taxpayer’s name...

Tax Court Sorts Out Basis On Russian Fast Food Merger

by admin | Jan 5, 2016 | Tax

I could not pass up the Tax Court decision in the case of Michael Tseytin. There are some big dollars in the underlying transaction – over $23 million in cash proceeds in a merger with a total value of $54 million. Mr. Teseytin controlled US Strategies Inc...

Mass Appeals Court Supports Revenue Department In Penalizing Paper Check

by admin | Jan 4, 2016 | Tax

Originally published on Forbes.com. In the summer of 2014, Jonathan Haar became one of my heroes. The story began in 2011, when Mr. Haar extended his 2010 Massachusetts income tax return. Massachusetts required electronic payment on extensions with $5,000 or...

Family Partnership Valuation Discounts Approved By Tax Court

by admin | Jan 2, 2016 | Tax

Originally published on Forbes.com. When one of the founding partners of a regional law firm has the firm’s estate group handle his planning, they are likely to do a pretty good job. That may well be the moral in the Tax Court decision in the case of the Estate...