Tax - Your Tax Matters Partner

Strong Language In Partnership Agreement Might Help With Expense Deductions

by admin | Apr 15, 2014 | Tax

Originally published on Forbes.com April 15th, 2014 Peter McLauchlan’s recent loss in the Fifth Circuit appealing a Tax Court decision has two important lessons. The first is a clause that should be in almost every professional partnership agreement. The second...

Non-Custodial Parents Out Of Luck When Form 8332 Withheld

by admin | Apr 13, 2014 | Tax

Originally published on Forbes.com April 13th, 2014 If you are a non-custodial parent claiming one of your kids as a dependent, do you have Form 8332 (Release of Claim to Exemption) signed by the custodial parent and attached to your return? If you don’t, as...

Clergy Out In Force To Defend Their Housing Tax Break

by admin | Apr 10, 2014 | Tax

Originally published on Forbes.com April 10th, 2014 There is a certain irony in the litigation surrounding the “parsonage exclusion”, which allows mega-pastors to excluded mega housing allowance for their mega houses. The Joint Committee on Taxation...

No Money For April 15 1040 Balance Due? Don’t Panic!

by admin | Apr 7, 2014 | Tax

Originally published on Forbes.com April 7th, 2014 If you are facing a large balance due this April 15th and don’t know where the money to pay it is coming from, you may be starting to panic. Go ahead and scream and yell a bit or whatever it takes to get it out...

Easement Valuations Not So Easy Anymore

by admin | Apr 5, 2014 | Tax

Originally published on Forbes.com April 5th, 2014 If you have a sincere desire to preserve property that you own from future development, the donation of an easement is something of a free lunch. Out in the country, where you are worried about your acres of forest...

Bitcoins Not Tax Fairy Dust – Second Life Still A Tax Haven?

by admin | Mar 26, 2014 | Tax

Originally published on Forbes.com Mar 26th, 2014 The IRS has just issued Notice 2014-21 which is a Q&A on how “existing general tax principles” apply to virtual currencies. The thrust of the Q&A is fairly simple and not at all surprising....