Cohan Rules
I made the Cohan rule the Prime Directive of Reilly’s Laws of Tax Planning – If you don’t have documentation, at least have a plausible story.
Read This Before You Bundle Grandma Onto the Plane
Originally published on PAOO December 30, 2009 just two days before the year without an estate tax. The end of that year promises to be a trope in many murder mysteries for years to come.
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.