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Wyoming Beats The On-line Companies On Room Tax

by admin | Mar 17, 2013 | Tax

When you hear about people like golfer Phil Mickelson moving from high tax states like California, the most likely destinations are Texas and Florida. You don’t hear Wyoming mentioned very often. Back in the pre-internet days of yore, we used to write to every...

Written Business Plan Is Crucial In Horse Tax Court Case

by admin | Mar 16, 2013 | Tax

Horse breeding is a favorite target of the IRS, when it comes to the hobby loss rules. Nonetheless, breeders will often beat the IRS in Tax Court. Reading a recent decision I got the sense that William Dodds, a tax accountant, came so close that he could almost taste...

New Yorkers Work For A Sober Saint Patrick’s Day While Maine Enables

by admin | Mar 15, 2013 | Tax

I find it really troubling that we have a holiday seemingly dedicated to binge drinking and an ethnic stereotype. That would be St. Patrick’s Day. Just poking around, I stumbled on this: It wouldn’t be St. Patrick’s Day without a good drink and the Irish have...

No Fans Of Sister Wives At The IRS ?

by admin | Mar 12, 2013 | Tax

Thanks in part to “reality” TV, the practice of polygamy may be starting on the path to being normalized. Polygamy still has a way to go based on a recent IRS ruling (PLR 201310047). The ruling denied exempt status under 501(d) to an unnamed organization....

Carried Interest Debate Heats Up Without Much Light

by admin | Mar 11, 2013 | Tax

The “carried interest” debate seems to be heating up again and it has me aggravated. Lynn Forester de Rothschild did a piece in the New York Times titled Carried Interest – A Costly And Unjust Perk for Financiers: Of the many injustices that...

Render Unto Caesar – Mormon Tithe Not A Necessary Expense In IRS Collection Case

by admin | Mar 8, 2013 | Tax

Nothing like a Tax Court decision with dueling Bible verses. The taxpayer had something from Malachi -Will a man rob God? Yet ye have robbed me. But ye say, Wherein have we robbed thee? In tithes and offerings. The Tax Court countered with something from Matthew,...