Chase Tries to Fix Mortgage Screw-up by Arguing Borrower Not Good at Latin
Originally Published on forbes.com on February 2nd, 2012 ______________________________________ I guess it has become apparent that “securitizing” some mortgages was...
IRS Wins a Horse Case for a Change
One of the keys in winning a hobby loss case is that you show the Court that you were paying attention to your results and modifying based on experience to get more profitable, even if you are ultimately unsuccessful. The Bronson’s plan to buy their own place indicates that type of thinking. However, they took a long time to do it, which might be a sign of prudence, but during that time they continued to acquire more ponies. That seems to have been the Court’s greatest criticism of their profit motive.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.