Tax - Your Tax Matters Partner

Do You Need To Maximize Rents To Claim Rental Losses?

by admin | Aug 26, 2014 | Tax

Originally published on Forbes.com Aug 26th, 2014 Does a taxpayer face tax trouble from not maximizing the rent?. That seems to be the holding in a recent Tax Court decision in the case of Harrison Hunter. I’m not sure that Mr. Hunter should have actually...

Home Sweet RV Does Not Always Produce Best Tax Result

by admin | Aug 25, 2014 | Tax

Originally published on Forbes.com Aug 25th, 2014 Having recreational vehicles considered dwellings for tax purposes is probably, more often than not, a taxpayer-friendly position. It makes the interest to acquire such vehicles potentially deductible as residence...

Where Tax Shelters Go When They Die

by admin | Aug 22, 2014 | Tax

Originally published on Forbes.com Aug 22nd, 2014 The fallout from sketchy tax shelters can stretch over a very long time. Michael and Ruth McElroy were in Tax Court recently trying to make that stretching work in their favor. They did not get a break. Not only...

Tax Court Omits Key Sentence In Ruling Against Taxpayer

by admin | Aug 21, 2014 | Tax

Originally published on Forbes.com Aug 21st, 2014 The way the Tax Court judge put it, Scott Williams was an aviation buff with a business unrelated to aviation. The IRS objected to Mr. Williams integrating his aviation activity into his business Worldwide Phone Pops...

Robert Redford’s New York Tax Trouble Provides Lessons For Planners

by admin | Aug 19, 2014 | Tax

Robert Redford Originally published on Forbes.com Aug 19th, 2014 Nearly two weeks ago the tax blogosphere lit up with the news that Robert Redford was fighting a $1.6 million tax bill from the state of New York. Redford’s celebrity is luminous enough to...

The OID Fraud And Criminal Gullibility

by admin | Aug 18, 2014 | Tax

Originally published on Forbes.com Aug 18th, 2014 April J. Rampton was sentenced to 21 months in federal prison for filing false claims for income tax refunds. She tried appealing her conviction to the Tenth Circuit, but that did not go well. Her defense was based...