Freedom From Religion Foundation Won’t Take Clergy Housing Case To Supreme Court
Someone make the case that Joe Sixpack has to pay taxes on his income and doesn’t get any exclusion for his singlewide complete with a deck and a mangy dog sleeping under it, while Kenneth and Gloria Copeland live in an 18,280 square-foot lakefront parsonage on 25 acres valued at $6.2 million and exclude hundreds of thousands of dollars from income taxes under the housing allowance, or while Phil Driscoll enjoys not owing federal income taxes on $408,638 provided to him by his ministry to buy a second home on a lake near Cleveland, Tenn.
Deferred Sales Trust – A Tax Plan Or A Product ? A Bit Of Both
There is a veritable army of financial services providers offering DST as an option and explaining why it is such a good thing. They are members of the Estate Planning Team, which developed and implements DST.
If you are interested in joining the team, you can go to Why Join The Estate Planning Team? There are powerpoints with audio explaining the benefits to professionals of various sorts. Here is the one for CPAs and tax professionals. (Uses Flash)
Besides all the great referral business a CPA can get out of DST there is also the allure of a piece of the set-up fee on each transaction and a piece of the money management fee that is part of the whole package.
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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.