Third Circuit Rules Grocery Store Chain Can Deduct Perks Sooner Rather Than Later
By disallowing deductions claimed on the basis of established recurring expenses, the Tax Court effectively obliterated the distinction between two accounting methods expressly authorized by the Tax Code.The extent to which cash and accrual methods of accounting sometimes yield different deductions is a byproduct of the Tax Code’s design. So long as a taxpayer consistently adheres to one accounting method, the Code is agnostic as to the benefit or hardship wrought by his selection
Daniel Berrigan And Those In The Silent Generation That Did Not Shut Up
Just over a week ago, I found myself watching a live stream of the funeral mass of Father Daniel Berrigan. My reaction was probably a little different from most. I...
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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.