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Military Housing Allowance Much More Limited Than Clergy’s

by admin | Jun 30, 2014 | Tax

Originally published on Forbes.com June 30th, 2014 In November of 2013, Judge Barbara Crabb declared that Code Section 107(2), which allows payments of housing allowances to “ministers of the gospel” to be free of income tax, unconstitutional. Whatever...

Kuretski – Was Legal Dream Team Really Trying To Help The Taxpayers?

by admin | Jun 26, 2014 | Tax

Originally published on Forbes.com June 26th, 2014 If you owed the IRS some money and wanted to compromise the balance wouldn’t it be a great thing to have a legal dream team fighting your case? The decision by Judge Srinivasan in the case of Peter and Kathleen...

Facade Easement Valuation Cannot Be Percentage Rule Of Thumb

by admin | Jun 25, 2014 | Tax

Originally published on Forbes.com June 25th, 2014 The idea that you can use a simple rule of thumb to value a facade easement has now been thoroughly put to rest. That is my reading of the Second Circuit’s second decision in the case of Huda Scheidelman. Ms....

Step Kids Remain Step Kids After Divorce

by admin | Jun 23, 2014 | Tax

Originally published on Forbes.com June 23rd, 2014 Does divorcing your spouse divorce you from your stepchildren? Well, it turns out that for the “relationship” piece of the dependency exemption it does not. The Tax Court was able to use that rule to cut...

Does Sixth Circuit ABC Decision Give Tenants Incentive To Buy?

by admin | Jun 19, 2014 | Tax

Originally published on Forbes.com June 19th, 2014 The ABC Beverage Corporation makes and distributes soft drinks for Dr. Pepper Snapple Group. It was subject to an onerous lease on its bottling plant in Hazelwood, Missouri. So the company decided to buy the...

Cocaine Ponzi Schemes And Tax Prep – Not A Good Mix

by admin | Jun 18, 2014 | Tax

Originally published on Forbes.com June 18th, 2014 Here’s a tip if you are seeking to get started as a tax preparer. Don’t go to work for somebody who also distributes cocaine and runs a Ponzi scheme. That is probably the real reason that Frances Carlson...