Tax Lessons From Woody Allen’s ‘Blue Jasmine’
You may have this vision, that you and your ex are going to become pals after the wounds have healed. It can happen. I know of couples who vacation with their exes and their exes’s partners. You might consider this. Filing a joint return is an irrevocable election while filing separately is not. File separately to get through the contentious phase, wait a couple of years and amend to a joint return. You can use the refund to help pay for that cruise the four of you are going to take together. Or not.
Andrew Schiff Does Not Recommend That You Imitate His Father Irwin
At any rate, Irwin Schiff’s strongest supporters are no doubt his sons. Peter Schiff told me has spent hundreds of thousands of non-deductible dollars defending his father. You may agree with Irwin Schiff’s view and you may admire Irwin Schiff. Even his strongest supporters, however, will not encourage you to follow in Irwin Schiff’s footsteps.
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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.