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Are Divorce Attorneys Trying To Whipsaw IRS ?

Are Divorce Attorneys Trying To Whipsaw IRS ?

Broadly speaking there are three types of payments connected to divorce. They are property settlements, child support and alimony. The first two do not create taxable income or deductions. Alimony, on the other hand, is deductible against adjusted gross income to the...

September 17 Remember America’s Bloodiest Day

Originally published on Forbes.com on September 10th, 2012 What could motivate as hard-core a tax geek as me to to take the day off on a major due date for the first time in thirty years ?  Must be something historic ? It is.  September 17th (extended due date for...
Larry The Cable Guy Needs To Turn In Receipts

Larry The Cable Guy Needs To Turn In Receipts

Unreimbursed expenses you have to incur as an employee are deductible, but only kind of.  They are miscellaneous itemized deductions subject to the 2% floor.  You combine them with other miscellaneous itemized deductions, such as investment fees, and you get to deduct...
Phil Driscoll To Supreme Court – Enough Not Enough

Phil Driscoll To Supreme Court – Enough Not Enough

I really promise to not turn my blog into “All Parsonage Exclusion All The Time”, but there is one more development in August that has not received much attention. Phil Driscoll is appealing to the Supreme Court.  Phil Driscoll could be the poster boy of...
In Defense Of Special Tax Treatment For Clergy

In Defense Of Special Tax Treatment For Clergy

Ministers are allowed to exclude the portion of their compensation designated as a housing allowance from their taxable income.  Quite a few people question the constitutionality of this provision and it looks like it may be finally put to the test.  A federal...