Organizing Junk Mail Does Not Qualify As Manufacturing
In a modern interconnected economy, distinguishing between “manufacturing” and other activities is silly.
The law’s unwise distinction between “production” activities and other activities encourages taxpayers to try to qualify, and forces the courts to try to draw distinctions.
JD Salinger – Was January 27 2010 A Good Day To Die
Even more fantastic, was there a contingency plan in place in the event that death occurred late in December ? How hard would it be to post-date a death certificate under those circumstances ? It makes a good “ripped from the headlines” plot for Law and Order, but the income tax advantages of the step-up in basis are so sweet that it would actually be stupid estate planning.
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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.