AMT Credit Carryover Dies With The Taxpayer
The other practical observation from a planning viewpoint is to note many valuable tax attributes even for example basis in excess of value will die with the taxpayer. There may be planning opportunities that present themselves. Consider a taxpayer with large charitable carryovers or net operating losses and substantial IRA assets. It might be worth ending the income deferral while there are attributes to shelter it rather than leaving behind an income tax liability.
Bill Sardi Thinks Eric Hovind Should Be Polishing His Resume
I heard from Bill Sardi who has some thoughts on the current conflict in the Hovind family that has spilled into the public sphere. Kent mentioned Bill around the 7:00...
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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.