Feed Your Sales Representatives Like Hockey Players And Get 100% Tax Deductions
A billionaire sports club owner winning in Tax Court seems like one of those stories that is more of sensational than practical interest. As it happens though Jeremy Jacobs’s win is a real meat and potatoes issue (quite literally in a sense) for people with more ordinary businesses.
Congress To IRS – Hands Off The President’s Favorite Charitable Tax Dodge
A small group of promoters are offering packaged conservation easements. I have not seen any of their presentations, but someone who has tells me that they are very slick. They might promise tax deductions as much as 250% or more of the amount invested. Bradford Updike, an attorney, is the only person I have spoken with who thinks it is possible for these things to be legitimate. He wrote Conservation Easements: The Federal Tax Rules And Special Considerations Applicable To Syndicated Transactions.
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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.