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Most Recent Posts

Thespians And Pagans Fight Assessors In New York Court

Thespians And Pagans Fight Assessors In New York Court

Most of my pretty limited exposure to neo-paganism has been of traditions that were in part resisting the spread of the Roman Empire.  The Phryganium, though is a revival of a tradition that was practiced in the Empire.  In some of the coverage, you get the sense that there was a belief that the Town was upset by the paganism.  I still would not rule out that it was generalized resistance to having another property go off the rolls. In my original article, I pointed out a Massachusetts case in which West Springfield was trying to tax a house that was lived in by women who were actual Catholic nuns.

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Motocross Racing With Tax Deductible Dollars Works This Time

Motocross Racing With Tax Deductible Dollars Works This Time

The IRS argued that the sponsorship of Ben was a personal expense, but the Tax Court was having none of it, pointing out that all five children had been supported in their motorcycle pursuits, but only Ben, who had already achieved some national prominence, was sponsored.  The IRS also argued that supporting Ben in races outside the company’s business area was of no benefit, but the Tax Court did not buy that argument either.

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AAA Does Not Revive With New S Election – Explained By Jelly Beans

AAA Does Not Revive With New S Election – Explained By Jelly Beans

The Accumulated Adjustment Account (AAA) from the first S period is entirely gone and can never be brought back.  If you were playing Magic, it would be like one of the cards you have to remove from your graveyard.  When you revoked your S election, you did not just move the black jelly beans on top.  You turned the old red jelly beans into orange jelly beans, doomed to be among those last consumed.

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Can Horse Owners Win In Tax Court By Partnering With Trainers?

Can Horse Owners Win In Tax Court By Partnering With Trainers?

Central to our conclusion is Mr. Knight’s involvement, not only as the trainer, but also as the coowner of petitioners’ horses. In a very real sense, he and petitioners embarked on a joint venture to own, train, race, and sell thoroughbred horses. The evidence clearly established that Mr. Knight embarked on this venture with the  intent to make a profit. We conclude that petitioners’ motivation was the same as his.

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