Tax Court Rules Not Enough Conservation On Golf Course To Justify $10 Million Deduction
Originally published on Forbes.com. These easement cases keep coming. Section 170(h) of the Code has created a mini-tax shelter industry based on bogus conservation...
Facade Easement Deduction Not Allowed- Not Real Property Interest And Not Perpetual
Harbor Lofts had a long term lease (till 2056) on two buildings in Lynn Massachusetts that are owned by the Economic Development & Industrial Corporation of Lynn. The two buildings are the Daly Drug Building and the Vamp Building. I found something on the Vamp Building but struck out on the Daly Drug Building.
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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.