Tax - Your Tax Matters Partner

Florida Man Sticks Ex With Tax Bill – Tax Court Helps A Little

by admin | Feb 8, 2018 | Tax

Marry in haste, repent at leisure is probably the moral of one of the latest Tax Court decisions – TC Memo 2018-15. As is my practice with cases of this sort I will refer to the couple involved as Robin and Terry. Their identities are public, but they...

Farmer Tax Break May Help Doctors And Lawyers – And House Cleaners – Among Others

by admin | Feb 4, 2018 | Tax

Originally published on Forbes.com. Subsequent fix to TCJA squashed this idea. In the over thousand pages that make up the Conference Report on on the Tax Cuts and Jobs Act, the most intriguing bit is on page 24 – “20 percent of the aggregate amount of...

Joy Ford May Sing The Tax Court Blues

by admin | Feb 1, 2018 | Tax

Originally published on Forbes.com, Joy Ford was a country music recording artist and has devoted much of her life to performing and promoting country music. Ms. Ford and her late husband Sherman purchased a property called Bell Cove which serves as a venue that...

Loophole May Allow Highly Paid Professionals To Take Advantage Of 20% Deduction

by admin | Jan 28, 2018 | Tax

Originally published on Forbes.com where it was an Editor’s Pick. Subsequent legislation killed this clever idea. An instance of Reilly’s Third Law of Tax Planning. The 20% “Qualified Business Income” deduction under Code Section 199A is a...

A Day Late Forecloses Tax Court Hearing Regardless Of Misleading IRS Notice

by admin | Jan 25, 2018 | Tax

Originally published on Forbes.com. When you miss deadlines in tax matters, the consequences vary. Sometimes it is “no harm, no foul”, sometimes there is a mild financial penalty, sometimes there is a severe financial penalty. And then there is the Tax...

Hobby Lobby Owner Loses Income Tax Deduction

by admin | Jan 23, 2018 | Tax

Photo credit Dean Hochman from Overland Park, Kansas, U.S. Originally published on Forbes.com The Tenth Circuit overruled a district court decision that granted the trust that owns Hobby Lobby a $3.2 million refund. The refund claim was based on charitable...