Tax - Your Tax Matters Partner

Fifth Circuit Upholds Keller Decision – Shows Power Of The Family Limited Partnership

by admin | Sep 30, 2012 | Tax

The Keller (Keller is the executor of the estate of Maude Williams) case is back. I have been following it since the earliest days of my tax blogging. It is a really amazing family limited partnership case. It illustrates two of my favorite sayings. One is from the...

State Residence For Income Tax – Pay Attention To The Basics

by admin | Sep 26, 2012 | Tax

In a state residence case, a couple of the basics are drivers license and voter registration. It reminds me a little of what one of my early mentors, Paul Deprisco, of Joseph B Cohan and Associates of Dedham ,told me about passing the CPA exam. “It doesn’t...

Dependency Exemptions – Divorce Court Orders Not Binding On Tax Court

by admin | Sep 25, 2012 | Tax

Orders signed by probate court judges don’t cut a lot of ice with tax court judges. That is what Dylan Moody learned in a memorandum decision last week. He was representing himself, which is understandable given the relatively small stakes in the case,...

Romney Accountant’s Letter – Exercise In Obfuscation ?

by admin | Sep 24, 2012 | Tax

The Romney campaign did not just dump the Romney 2011 final 1040 on us Friday, providing us with hundreds of pages of mosty pointless disclosure forms. They also gave us a two page letter from PricewaterhouseCoopers (PWC), which has prepared the Romney returns since...

Mitt Romney Passing On Nearly Two Million In Charity – Stupidest Thing I Ever Heard

by admin | Sep 22, 2012 | Tax

I have gone through the final version of Mitt Romney’s 2011 federal tax return. It came out at 3:00 PM yesterday. It was very considerate of the campaign to release it on Friday, allowing the poor tax bloggers with day jobs to spend some quality weekend time...

Private Residence Club Does Not Trigger “New York Rule” On Resident Status

by admin | Sep 21, 2012 | Tax

Originally published on Forbes.com on September 21st, 2012 A ruling by the New York Department of Taxation should give a huge boost to private residence clubs in Manhattan. In a private residence club you own a share in a city apartment. You have the right to use it...