Trump Seven Springs Easement Deduction May Be Reasonable
The Seven Springs easement is real and it is on a property that he owned a long time. The New York AG probably is politically motivated in pursuing this. The Post has done some really good work here and they weren’t afraid to report a competing narrative, so they deserve a lot of credit. Other than that. Not much to see here, folks.
Proposed Bill Will Not End Conservation Easement Tax Abuse
The reason the number is 2.5 is that assuming you have a 40% marginal rate that would be your break-even multiple. That is the multiple that the IRS used when it identified deals as listed transactions in 2017. It is possible that the ultimate source of the 2.5 is Stephen Small, an attorney who has crusaded against abusive deals and supported the more benign deals.
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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.