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Live From Gettysburg Address Sesquicentennial

Live From Gettysburg Address Sesquicentennial

“President’s Lincoln’s Own Band” was performing at the Wills house.  The Band is composed of the musicians who performed in the movie Lincoln wearing the same uniforms that they wore in the movie. CV and I got to chat with them last night at dinner in the hotel and this morning at breakfast.  Apparently, the cold presents problems for them beyond discomfort as the larger instruments warm up more slowly which puts them out of tune.  The band will be performing this morning at the Ceremony.  The Marine Corps Band will be playing the National Anthem.  It was President Lincoln that started the tradition of the special relationship between the Presidency and the Marine Corps Band.

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IRS Letter To Senator Boxer On Short Sales Not Good News For Everybody

IRS Letter To Senator Boxer On Short Sales Not Good News For Everybody

There are situations where this rule might work against the taxpayer, particularly those who borrowed against property after it appreciated.  There are various exceptions to recognizing debt discharge income, such as the insolvency exception.  These will no longer be available.  There will be a gain that is inescapable to the extent that it is not covered by the principal residence exclusion.  So look closely at your facts before you throw a party to celebrate this ruling.

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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.