Horse Breeder/Lawyer Wins In Tax Court. Was It Worth It?
Pretty much everything I know about the horse breeding business, I’ve learned from reading Tax Court decisions. The appeal of working with animals quite a bit bigger than I who appear to defecate quite a bit escapes me. Also, the stories in the Tax Court lead me to believe that the business consists of calamity following misfortune or as my blogging buddy, Robert Flach would put it, one GD thing after another.
Mr. Tolin’s focus in the years in question was on a stallion named Chosen Choice. Chosen Choice’s racing career had been cut short by injuries, but he had done well enough to have potential in the post-racing career of the successful stallion.
Court Approves Tax Sale Of New Mexico Property For Less Than 1% Of Its Value
It almost looks like the Valenzuelas pulled a reverse snooze/lose on the Snyders. They told the judge that the property was worth more than 100 times what the Snyders paid for it and the Snyders didn’t object in the proper manner, so the Court gave the Valenzuelas summary judgment. But not so fast, says the appeal court.
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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.