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Most Recent Posts

Looks Like No Charitable Deduction For Gifts To Steak And You Know Day

The serious part of the site is what is causing me to issue the emergency tax caution.  There is a charitable component to this.  If you send in a donation they will send an invitation to your partner.  Guys, think real hard before you do that.  They will keep 20% and 80% will go to a charity that is dedicated to raising breast cancer awareness.  That of course sends my BS detector into high gear.

You will probably not be shocked to find out that Steak and ______ Day does not show up on guidestar.org.  Digging a little further in the site you will find that the donation actually goes to, forgive me, I am not making this up, an organization called Coppafeel.  It turns out that Coppafeel actually is a legitimate charitable organization.

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Jury Finds Kent Hovind Guilty Of Contempt Of Court No Verdict On Fraud Charges

I just heard from Jonathan Schwartz of Interlock Media and freelance journalist Ben Sheffler that the jury has reached a verdict.  On the six count indictment, Hovind was found guilty on count three, which only applied to him – violating a court order to not interfere with title to the property.

 Hansen was found guilty on counts five and six, which only related to him – violating a court order to Creation Science Evangelism to refrain from further filings in relation the property and resisting a grand jury subpoena.  The jury was unable to reach a verdict on the more serious fraud charges against Hovind .  Hansen was found not guilty on one of the fraud charges (count two) with the jury not reaching a verdict on the other fraud charge (Counts 1 and 4).

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Did Eighth Circuit Bulldoze Caterpillar Dealer’s Like Kind Exchanges?

Did Eighth Circuit Bulldoze Caterpillar Dealer’s Like Kind Exchanges?

It is a really interesting problem. Deferring the tax is like getting an interest free loan of as much as $200,000 come next April which will be repaid over 5 years more or less depending on circumstance in those years. Who knows? Maybe rates will be higher. The financing from Caterpillar is equivalent to an immediate interest free $750,000 loan for six months.

Of course, NC tried to get both. It is interesting to wonder what they would have chosen if they knew they could only get one. I’d probably take the $750,000 bird in the hand in which case the aggressive position they took ends up being nothing ventured nothing gained if you ignore the mountain of work that somebody is going to have amending returns.

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