Tax - Your Tax Matters Partner

S To LLC As A Fiscal Cliff Acceleration Strategy ?

by admin | Nov 24, 2012 | Tax

I hate to plan for “might be” tax changes. Nonetheless, the situation we find ourselves in now requires it. There is a decent chance that there will be game changing tax legislation. It will probably not be on the scale of the Tax Reform Act of 1986, but...

Joint Returns Need Warning Labels

by admin | Nov 24, 2012 | Tax

Theresa Karam was denied innocent spouse status by the Tax Court and has lost on appeal to the Sixth Circuit. There is a very interesting twist to her case. Her failure to get innocent spouse status was cushioned by the lawsuit that she won against her accountant. ...

IRS Position On Wandry Decision Makes 2012 Gifting More Difficult

by admin | Nov 19, 2012 | Tax

The IRS has thrown a significant road block into planning for large 2012 gifts. Our transfer tax system , gift and estate taxes, is unified. There is a credit against gift tax that if not used during a person’s lifetime is available to the estate. For the...

Carbon Tax Getting Serious Consideration As CBO Seeks To Address Regressiveness

by admin | Nov 17, 2012 | Tax

Originally published on Forbes.com Nov 17th, 2012 I first learned about the concept of a carbon tax from the Green Party Platform. It was one of the things that Presidential candidate Jill Stein spoke at length about in my interview with her. The concept also...

Sixth Circuit Agrees That Cliff Claven Is Not A Thief

by admin | Nov 14, 2012 | Tax

Originally published on Forbes.com Nov 14th, 2012 John Ratzenberger is best known as being an actor. I know that actors are not their roles, but it is easy to fall into that trap. From his website, I learned that he is a really serious guy interested in preserving...

Penalty On Qualified Plan Withdrawal To Pay Alimony

by admin | Nov 10, 2012 | Tax

It always bums me out when the Tax Court makes a decision that is clearly correct, but totally unfair. Charles Hartley was in front of a Tax Court judge, because the IRS had penalized him for doing what another judge, a family court judge, told him he had to do. He...