Tax - Your Tax Matters Partner

White House Blows Smoke At Pot Petitions

by admin | Jan 19, 2013 | Tax

We The People, the White House petition site, had two marijuana petitions up. One petition was to remove marijuana from the Controlled Substance Act and the other petition was to “federally legalize marijuana”. The threshold for a formal response...

Are Tax Protesters Actually Winning ?

by admin | Jan 17, 2013 | Tax

Laurel Ann Curtis is the author of (take a deep breath) – IRS Exposed: Bullies, Liars and Thieves – The True Story of How One Woman Fought The IRS And Won. Clearly she was not referring to her latest appearance in Tax Court. She really got creamed. Tax...

Avoiding Excess Credit Card Interest Should Not Be A Taxable Event

by admin | Jan 14, 2013 | Tax

Michael and Sharon Bross stood up to a credit card company that, as they saw it, overcharged them. The company backed down. I think people who do that deserve a medal. The IRS thinks they should be taxed. Sadly, the Tax Court agreed with the IRS. They call...

Your Money Or Your Life – Which Can You Deduct ?

by admin | Jan 13, 2013 | Tax

Ronald and Judy Mills recently lost in Tax Court, but when you think about it maybe they didn’t do so bad overall. The issue in the decision was whether they should be subject to an accuracy penalty. One of the ways that you can avoid an accuracy penalty is by...

Would Be Developer Tripped Up By Interest Tracing Rules

by admin | Jan 11, 2013 | Tax

Back in the good old days (i.e. before the Tax Reform Act of 1986), interest that you paid was generally deductible. Now we have several categories of interest that are deductible subject to various limitations and personal interest which is not deductible at all. ...

War Tax Resisters – Don’t Call Them Frivolous

by admin | Jan 6, 2013 | Tax

Despite my ability to find large amounts of humor in original source tax material, taxes are a serious matter. The IRS has been directed by Congress to stamp out frivolity in tax submissions. Code Section 6702 requires the Service to make a list of frivolous tax...