Kansas Hungry For $40 Million Tax Slice Of Pizza Hut Franchisee’s Profits
This is where it gets a little lawyerly. Mr. Bicknell’s attorneys want to argue that the regulations should not apply in his case since they were issued after he moved. They have other problems with the regulations such as unconstitutional vagueness. DOR argues that they are relevant since the bulk of the assessment relates to 2006. The Court of Appeals ruled that the challenge to the regulations is premature.
Tax Court Views Ballpark Guesstimates As Fields Of Dreams
If you are involved in a money-losing side activity (or money-making if your income is over the NII threshold), try to keep contemporaneous records of the time you spend. Ideally, you should cross-reference the time log with invoices and e-mail print-outs, and vendor invoices. Of course, if your goal is to be featured in one of my blog posts, it might not happen, since there is a decent chance that you win at appeals. Whatever you do, never refer to whatever reconstruction you come up with as a “ballpark guesstimate”. That will cause you to strike out.
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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.