Tax Court Leaning Harder On The Little Guys In Hobby Loss Cases
The issue is whether Swanson was taking people out on the fishing boat to make a profit or just for the halibut,
Structured Installment Sale Can Be A Great Solution To Liquidity Event Tax
Rising interest rates have brought one technique to the fore that had gone out of favor- the structured installment sale (SIS). For what it is worth, if I had another ship come in this is the technique that I would likely go with.
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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.