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Most Recent Posts

Historian Views Kennedy Assassination As Climax Of American Catholic History

It could be seen as the climax of American Catholic history in the sense that his Presidency, his inaugural with Cardinal Cushing, and most of all his murder and the national mourning that took place with the integration of Catholic and American rituals and symbol–the whole country, together, experiencing the grief amid symbols, and ceremonies, American and Catholic, that were now fully our own- together-

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Justice Antonin Scalia Led High Point Of Gettysburg Ceremonies

 Among the countries listed were Canada and the United Kingdom.  I wonder if they are fleeing the horrors of national health care.  Also included was Burkina Faso, which I have to confess I had never heard of.  It turns out that it was called the Republic of Upper Volta back when I was collecting stamps, which is the source of much of my lamentably deficient geographic knowledge.  When our new fellow Americans were done abjuring all allegiance and fidelity to any foreign princes or potentates, the crowd gave them a standing ovation.

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Live From Gettysburg Address Sesquicentennial

Live From Gettysburg Address Sesquicentennial

“President’s Lincoln’s Own Band” was performing at the Wills house.  The Band is composed of the musicians who performed in the movie Lincoln wearing the same uniforms that they wore in the movie. CV and I got to chat with them last night at dinner in the hotel and this morning at breakfast.  Apparently, the cold presents problems for them beyond discomfort as the larger instruments warm up more slowly which puts them out of tune.  The band will be performing this morning at the Ceremony.  The Marine Corps Band will be playing the National Anthem.  It was President Lincoln that started the tradition of the special relationship between the Presidency and the Marine Corps Band.

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IRS Letter To Senator Boxer On Short Sales Not Good News For Everybody

IRS Letter To Senator Boxer On Short Sales Not Good News For Everybody

There are situations where this rule might work against the taxpayer, particularly those who borrowed against property after it appreciated.  There are various exceptions to recognizing debt discharge income, such as the insolvency exception.  These will no longer be available.  There will be a gain that is inescapable to the extent that it is not covered by the principal residence exclusion.  So look closely at your facts before you throw a party to celebrate this ruling.

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Tatiana's Status As Brighton Beach Icon Hurts Owner In Tax Appeal

Tatiana's Status As Brighton Beach Icon Hurts Owner In Tax Appeal

The other string in the Division’s bow is something called the New York rule.  If you have a place of abode in New York  (Ms. Varzar continued to own a house in Brooklyn where her daughters lived) and you are in New York more than 183 days, then you are a “statutory resident”.  You are treated as a full year resident even though your domicile is elsewhere. 

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Ninth Circuit Rules 85-Year-Old Tax Protester Should Stay In Jail

Ninth Circuit Rules 85-Year-Old Tax Protester Should Stay In Jail

I have to say he has my sympathy, there.  Bipolar disorder has marred my career from time to time.  It is a tricky thing to catch because you can feel so good when you are manic.  That’s the more dangerous part of the disease when you do risky stuff. Depression is not so dangerous, unless, of course, you get suicidal.

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Mobile Workforce Act Good Idea But May Need More Limits

I tried to imagine what it was like for somebody who was more peripatetic than I.  It made me a little less of envious of the people with mysterious functions who did not have to worry about client service and billing and collection who wandered the nation inspiring us to apply the leverage model and fill in the white space.
It also made me happy that most of my away-from-home work was in Central Florida, where you have a right to carry and stand your ground and no stinking state income tax.  I don’t carry and I am sure that I would run like hell, but one more state income tax return might have pushed CV past the tipping point.

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SPLC Calls Family Research Council Hate Group – Should IRS Take Action?

SPLC Calls Family Research Council Hate Group – Should IRS Take Action?

The other very broad issue is whether the organization is meeting the definition that makes it exempt.  Is it really educational?  Is it engaging in politics? Is it really a church? You could probably come up with a worse way than having an accountant heavy organization making those determinations, but it might take you a while.
It’s not just because an accounting degree is a terrible education for that purpose.  It’s also a cultural problem.  If you task a group of accountants with collecting $2.5 trillion dollars, do you really expect them to take soft stuff that has only a remote potential for bringing in more money very seriously?

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When Planning Never Forget The Alternative Minimum Tax

When Planning Never Forget The Alternative Minimum Tax

Surely you have been keeping track of your AMT basis in your S corporation stock.
Oh.  You rely on your accountant for things like that.  Well, I have to tell you.  Your reliance is misplaced.  If you have had the same accounting firm for all the years that you owned the S corporation and they used a good software package like Pro fx continuously for all those years, there is a chance that the number is available.  If you switched preparers several times and they switched software, the chance that you have a good AMT basis number is pretty remote.

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