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Fathers Denied Dependency Deduction For Lack of Form

Fathers Denied Dependency Deduction For Lack of Form

by | Jul 13, 2011 | Tax

Originally Published on forbes.com on July 13th, 2011 ______________________________________ One of the items typically addressed in divorce agreements, is allocation of the dependency deduction.  I think it generally gets more attention than it deserves based on the...
Tax Simplification Proposal

Tax Simplification Proposal

by | Jul 12, 2011 | Tax

Originally Published on forbes.com on July 12th, 2011 ______________________________________ Other tax bloggers put forth reform proposals all the time.  Robert Flach, The Wandering Tax Pro, who scorns the expensive and unreliable software the rest of use, is...
Trader in Securities Status Difficult to Attain

Trader in Securities Status Difficult to Attain

by | Jul 11, 2011 | Tax

Originally Published on forbes.com on July 11th, 2011 ______________________________________ Net losses from the sale of investment securities are only deductible to the extent of $3,000 per year.  The balance is carried forwarded to use against future gains.  An...
Roni Deutch Clients Find No Help From The Tax Lady

Roni Deutch Clients Find No Help From The Tax Lady

by | Jul 10, 2011 | Tax

Originally Published on forbes.com on July 10th, 2011 ______________________________________ Rodrigo Gaona and Albert Kennedy along with George Forero founded a company called MS Patrol.  Begining in 2000 the company stopped paying over tax withholdings.  Mr. Ganoa...
Unpaid Credit Card Interest Creates Taxable Income

Unpaid Credit Card Interest Creates Taxable Income

by | Jul 9, 2011 | Tax

Originally Published on forbes.com on July 9th, 2011 ______________________________________ I find taxing someone on the amount of the debts that are discharged from paying disturbing.  It always has struck me like kicking somebody when they are down. The straight...
Timber Case Shows Value of Family Limited Partnership

Timber Case Shows Value of Family Limited Partnership

by | Jul 7, 2011 | Tax

Originally Published on forbes.com on July 7th, 2011 ______________________________________ Estate of Natale B. Giustina, et al. v. Commissioner, TC Memo 2011-141   There are many good business reasons to consider putting assets into a family limited partnership.  I...