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Bernie Sanders And The 90% Income Tax Rate That He Does Not Call For

by admin | Dec 18, 2015 | Tax

Originally published on Forbes.com. Bernie Sanders supporters seem to want to make it real clear that he will not be proposing a 90% income tax rate. Yesterday Vote Bernie Sanders 2016, an unofficial site, posted a clip (Bernie Sanders Myth: The 90% Tax Rate) from a...

Technology Officer Loses Appeal On Capital Gains Treatment From Sale To Google

by admin | Dec 17, 2015 | Tax

Originally published on Forbes.com. When Brian Brinkley received $3.1 million for his interest in Zave Networks Inc in 2011 when it merged into Google, he thought the whole amount should be taxed as a capital gains. He found it rather disconcerting when $1.8 million...

Venus Flytraps And Elusive Gator On Golf Course Not Worth Millions In Tax Deductions

by admin | Dec 17, 2015 | Tax

Photo credit – Noah Elhardt Originally published on Forbes.com. So how is a Venus Flytrap like a golf course sand trap? You can find them both in a recent Tax Court decision about conservation easements. The owners of the Members Club and the Reserve Club...

Sumner Redstone Liable For Tax On Long Ago Gift

by admin | Dec 12, 2015 | Tax

Originally published on Forbes.com. So the Tax Court has dropped the other shoe in its consideration of the Redstone family’s gifts. Although they let him off on any penalties, the Court sustained a gift tax assessment of $737,625 against Sumner Redstone. Mr....

Photographer Inspired By Ansel Adams Does Not Fare Well Against IRS In Tax Court

by admin | Dec 11, 2015 | Tax

Originally published on Forbes.com. The Tax Court’s decision in the case of Victor and Daniela Kantchev did not really break any new ground in the hobby loss analysis of his photography business. If anything the Court took some ground that taxpayers had won...

National Organization For Marriage Denied Attorney Fees In IRS Lawsuit

by admin | Dec 9, 2015 | Tax

Originally published on Forbes.com. It looks like the National Organization for Marriage has come to the end of the line in its hope for a big payday from the IRS for the unauthorized disclosure of the Schedule B (donor list) attached to its 2008 Form 990. Form...