No, Unrecorded Intrafamily Home Mortgages Aren't Deductible
It is interesting to note the trade-offs and, to be cynical, the tangled webs we sometimes weave. By not recording the family mortgage, there was probably a better deal on the subsequent bank mortgage. The loss of the deduction is an expensive trade-off.
Ninth Circuit Rules 85-Year-Old Tax Protester Should Stay In Jail
I have to say he has my sympathy, there. Bipolar disorder has marred my career from time to time. It is a tricky thing to catch because you can feel so good when you are manic. That’s the more dangerous part of the disease when you do risky stuff. Depression is not so dangerous, unless, of course, you get suicidal.
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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.