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Divorcing Spouses Should be Careful About Joint Returns

Divorcing Spouses Should be Careful About Joint Returns

Gratisography at Pexels Laura Brady (TC Summary Opinion 2010-107) Sometimes when I advise taxpayers, I have to preface my advice with a warning that it is a minority opinion.  One of those minority opinions is on the subject of filing joint returns in the final year...
Credit Card Rebates May Yield Charitable Deductions

Credit Card Rebates May Yield Charitable Deductions

Ajay Sursesh This was originally published on PAOO on August 16th, 2010. If you have been lying awake nights worrying about whether you have to report your credit card rebates as gross income, relief has finally arrived. Unfortunately, if you really were lying awake...
Aggressive Life Insurance Plan Fails – Or Maybe Not

Aggressive Life Insurance Plan Fails – Or Maybe Not

This was originally published on PAOO on August 13, 2010. One of my favorite plays is Guys and Dolls.  My daughter and I occasionally attempt to sing Sit Down You’re Rocking the Boat.  You should be glad this is a text blog and not You-tube.  Trust me.  At any...
Does Tax Court Ruling on Gender Reassigment Go Far Enough ?

Does Tax Court Ruling on Gender Reassigment Go Far Enough ?

  ParaDox Rhiannon G. O’Donnabhain (134 TC 4) This was originally published on PAOO on August 12th, 2010. It was my first coverage of transgender issues. There has not been much on the deductibility of gender reassignment. In 1983 PLR 8321042 allowed the...
You Have to be Able to Keep Your Face Straight

You Have to be Able to Keep Your Face Straight

This was originally published on PAOO on August 9th, 2010. Willie J. Moore, et ux. v. Commissioner, TC Summary Opinion 2010-102 is a good illustration of the principle that Summary opinions make up in entertainment value what they lack in precedent. The issue was car...
Guess me Out of the Ballpark

Guess me Out of the Ballpark

Martin Péchy at Pexels Originally published on PAOO on August 6, 2010 The case of Marcel Ajah (TC Summary Opinion 2010-90) is about the ultimate oxymoron – “passive activities”. The concept of passive activities embodied in Section 469 is a creature...