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Most Recent Posts

Post Divorce Tax Intimacy Can Be Riskier Than Post Divorce Sex

Tax Court decisions to illustrate the hazards of post-marital tax entanglement are numerous, but the most recent is something of a standout.   I should mention at the outset that the Tax Court believed the version of events laid out by Anthony W Roberts.  His ex-spouse had a different version, which the Tax Court did not believe

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Are IRS Property Seizures The Stuff Of Reality TV?

Are IRS Property Seizures The Stuff Of Reality TV?

he idea that the vested guys and gals packing heat never say anything might create an interesting element. I can imagine cameo appearances by the Pawn Stars guys and some of the Storage Wars people to comment on the value of the goods being seized.

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Pritzker Trust Dodges Illinois State Income Tax

Pritzker Trust Dodges Illinois State Income Tax

By statute, the residence of the grantor at the time the trust became irrevocable subjects the trust to Illinois income tax. That was enough for the Sangamon County circuit court that had ruled in favor of the Revenue Department.  In the appeal, the trustee argued that Illinois taxing the trust was unconstitutional since the trust no longer had any connection to Illinois.

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How To Ranch Like Tom Cruise On A Lower Budget

How To Ranch Like Tom Cruise On A Lower Budget

The argument about whether the residences were integral to the operation of the ranch was all about what the residents were doing since apparently nobody was keeping a horse or a tractor in their garage.  The discussion reminded me a lot of the type of discussion you will see in passive activity and hobby loss cases. Storm Mountain’s argument was, in part, that since the agricultural operation was not leased out, but rather run by the Homeowners Association, each of the homeowners, by virtue of membership and dues-paying was participating in agricultural operations.

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Kind Christmas Wishes To Those Behind Bars And The Tax Collectors Too

So there might be some universities where Kent Hovind will be unpopular not just with the biologists, astronomers, and geologists, but also the New Testament scholars. I should mention that his tax theories will not endear him to the accounting faculty.  I don’t care.  I still wish him well and hope for his speedy release and join with Nick Lally in encouraging him to move past his tax struggles.

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Tax Lessons From Woody Allen’s ‘Blue Jasmine’

Tax Lessons From Woody Allen’s ‘Blue Jasmine’

You may have this vision, that you and your ex are going to become pals after the wounds have healed. It can happen.  I know of couples who vacation with their exes and their exes’s partners. You might consider this.  Filing a joint return is an irrevocable election while filing separately is not.  File separately to get through the contentious phase, wait a couple of years and amend to a joint return.  You can use the refund to help pay for that cruise the four of you are going to take together.  Or not.

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Andrew Schiff Does Not Recommend That You Imitate His Father Irwin

At any rate, Irwin Schiff’s strongest supporters are no doubt his sons.  Peter Schiff told me has spent hundreds of thousands of non-deductible dollars defending his father.  You may agree with Irwin Schiff’s view and you may admire Irwin Schiff.  Even his strongest supporters, however, will not encourage you to follow in Irwin Schiff’s footsteps.

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