Tax - Your Tax Matters Partner

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...

How Much Is That Picasso In The Window? Tax Court Says Quite A Bit

by admin | Dec 30, 2015 | Tax

What can take a good bit of the fun out of your Picasso going for more than twice the expected price at Christies? Having it happen while the estate you inherited it from does not have its estate tax resolved might do it. Bernice Newberger died on July 28, 2009....

World Class Rider Does Not Insure Allowable Tax Losses In Horse Case

by admin | Dec 29, 2015 | Tax

Originally published on Forbes.com. One of the joys of reading Tax Court decisions is the Monday morning quarterbacking aspect. I can’t fault the advice that Michael and Sally Judah followed that led them to a Tax Court battle with the IRS about losses from...