Tax - Your Tax Matters Partner

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,...

Ellen DeGeneres Speaks Out For Spanish-American War Widowers

by admin | Mar 6, 2013 | Tax

There are two gay marriage cases being argued before the Supreme Court at the end of the month. You can get most of the amicus briefs on Hollingsworth v Perry, which concerns whether the 14th Amendment prevents California from defining marriage as only between a man...

Time To Eliminate Joint Filing ?

by admin | Mar 2, 2013 | Tax

Over the last few years I’ve come to think that joint returns for married couples are not such a hot idea. One reason is all the innocent spouse cases I read and sometimes write about. The other is the drama over DOMA. Being able to file a joint return is...

What Were They Thinking ?

by admin | Feb 26, 2013 | Tax

When a business has trouble paying its bills, the optimistic view is that it is having a cash flow problem. The other possibility is that it is a profitability problem. The apocryphal brothers who bought a truck and bought apples in the country for five cents, which...