Tax - Your Tax Matters Partner

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...

Paul Reddam’s KPMG Tax Shelter Stunk In More Ways Than One

by admin | Jun 17, 2014 | Tax

Originally published on Forbes.com June 17th, 2014 J. Paul Reddam, whose horse, “I’ll Have Another”, won two legs of the Triple Crown in 2012, just got some bad news from the Ninth Circuit. The Tax Court decision that upheld the denial of his...

Personal Goodwill Avoids Corporate Tax Exposure

by admin | Jun 13, 2014 | Tax

Originally published on Forbes.com June 13th, 2014 The IRS does not like the concept of “personal goodwill”, but courts have often approved it. In the Tax Court decision in the case of Bross Trucking, the concept was confirmed again, helping to save the...

Will National Grid Try Dumping Its Electrons Into Boston Harbor?

by admin | Jun 12, 2014 | Tax

Originally published on Forbes.com June 12th, 2014 Here in Massachusetts, we dealt rather harshly with the British taxing our tea. Now Massachusetts is getting some taxes from a UK company (National Grid) that has been transmitting our electrons. Kind of ironic. In...