You Have to be Able to Keep Your Face Straight
Unfortunately, automobile expenses are covered under Code Section 274, which takes them out of the Cohan rule. Which means if you don’t have good records, you get nothing, which is what Mr. Moore got.
Guess me Out of the Ballpark
Most people don’t keep very good track of how they spend their time. The regulations do not specify a particular method, but the cases beginning with William Goshorn in 1993 (TCM 1993-578) seem to characterize any method that taxpayers use to reconstruct their time as being a “post-event ballpark guesstimate”. “Ballpark guesstimate” which seems to me to be a fairly robust concept is apparently limited to estimates of time spent to satisfy material participation requirements.
Follow Me
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.