Most Recent Posts
Lu Gauthier Reports On Important Massachusetts Domicile Case
Lu Gauthier of the Boston Tax Institute has given me permission to reproduce his email blasts. BTI is a great value for live tax continuing professional education....
Here Is Hoping That The First Thousand Posts Are The Hardest
The extra emphasis on Kent Hovind in this round-up post is perhaps a reflection of the way that the immediacy of blogging keeps one in the now. I am actually on the slow side compare to many bloggers and will sometimes pass issues that are intensely covered, because I don’t have anything to add. There are various attributions for the remark that “journalism is the first rough draft of history”. I think that we can now say that blogging has become the first draft of journalism. The tension between the two crafts has become apparent to me as I have worked with a veteran journalist in covering the Kent Hovind story.
The immediacy of blogging is often valuable in the tax area. I received a few kudos from practitioners for being on top of the repair regs and there are quite a few cases, that have been of interest to small groups of people that would have gotten no coverage at all, if I had not noted them. The most recent instance of that is an Oregon Tax Court decision allowing real estate taxation of parish rectory that I see being picked up by the Catholic press.
A New York Day Is Like A New York Minute At Least For Taxes
Applying the New York rule and this day counting technique, I can conceive of someone being a full year resident of New York, New Jersey and Massachusetts. My hypothetical guy whom I call Harry Hedgefund has a monstrous house in Alpine NJ and apartments in Manhattan and Boston. It is not unusual for him to have meetings in New York in the morning and Boston in the evening. So he is domiciled in New Jersey and a statutory resident of both New York and Massachusetts. I’d hate to be the tax preparer who had to explain it to him.
Structuring Seems Like A Crime You Can Commit By Accident
Interestingly, the threshold for currency reporting ($10,000) has not changed since the seventies. I asked Ms. Zimiles about that and she said that raising the number has been discussed many times, but there is never any consensus as to what the new number should be, so it remains $10,000. It’s funny because I remember in the seventies not having a credit card at all and feeling that if I had eight dollars in my wallet, I was ready for anything. On the other hand, people tended to routinely deal in cash a lot more back then. I was a hotel night auditor and I handled a lot of twenties and hardly any hundreds and nowadays I still don’t have any call for hundreds, but I am using my credit card in pizza shops.
Estate Tax And Goodwill From Boston Tax Institute
Lucien Gauthier has given me permission to reproduce his email blasts. Here is the latest. In Estate of Franklin Z. Adell v. Comm., TCM 2014-155 (08/04/14), in light...
Failure To File Texas Franchise Tax Form Voids Lawsuit
EEPB got lucky, as it turns out. The trial court had granted EEPB’s motion for summary judgment that the malpractice claim was extinguished three years after CAC’s charter was forfeited and that reinstatement did not breathe life back into the claim.
The dates are important. CAC became a “terminated filing entity” on February 8, 2008 for not filing franchise tax forms. A terminated filing entity stays in existence for three years for the limited purpose of “prosecuting or defending in the terminated entity’s name an action or proceeding brought by or against the terminated entity”. So CAC had to bring its suit against EEPB by February 8, 2011. The suit was filed on February 15, 2013, The forfeiture of CAC’s charter had been set aside on March 29, 2011, presumably by catching up on the franchise tax. But that catch up did not revive the claim that was extinguished on February 8, 2011.
Oregon Tax Court Approves Taxation Of Church Rectory
It would seem that many church rectories or parsonages, to use the homey American term, would flunk the test laid out by the Oregon Tax Court. It will be interesting to see whether this becomes a trend. Parsonages have fallen out of favor with many Protestant denominations where the big tax subsidy is the federal income tax break that exempts cash paid for housing allowances from income tax. The dubious constitutionality of that provision has avoided scrutiny thanks to rulings on nobody having standing to object to it.
News From The Boston Tax Institute
Lu Gauthier of the Boston Tax Institute has given me permission to reproduce his email blasts. BTI is a great value for live tax continuing professional education....
Conservation Easements – Tax Court Lets Owner Sell Them Or Give Them But Not Both
To determine the amount of your charitable deduction you need to get an expert appraiser. Generally, there is not an active market for conservation easements, so the value is determined by valuing the property at its “highest and best use” (i.e. what brings the most money) and subtracting the value of the property in the current use to which it is now to be restricted. It’s the “highest and best use” that is the fantasy number. It is something that nobody is ever going to do so why not make it as grand as conceivable. Since practical obstacles don’t have to actually be overcome, they can be safely ignored.
From Secession 1861 to Appomattox 2015: The View of a Sesquicentennial Tourist
This is a guest post from my Sesquicentennial battle buddy Georg Snatzke. We only spent two days together, but those days are the bookends of my Sesquicentennial real...