Most Recent Posts
S Corporation SE Avoidance Still A Solid Strategy
Despite court losses and the lack of any discernible policy justification, it appears that the S Corporation SE tax avoidance strategy is still solid. Small business owners should examine the implication carefully, though, before jumping into it.
Whistleblowing Can Be A Business
The court went through a “hobby loss” type analysis to determine whether Mr. Bagley was engaged in a trade or business. He passed most of those tests – profit motive, acting in a business-like manner, expertise, time and effort – with flying colors. He even convinced the Court he was not enjoying himself, although this does seem like a situation fraught with the potential for schadenfreude.
Michigan Collects Use Tax On Illinois Resident's Rhode Island Yacht
Originally published on Forbes.com Aug 22, 2013 It looks like John Podmajersky will be paying the State of Michigan nearly $100,000 in use tax on his 65 foot yacht, the...
Group Claiming To Teach True Meaning Of Islam Denied Exempt Status
Z Street, a pro-Israel group, is suing the IRS over its loss of exempt status. They are talking about a BOLO similar to the Tea Party one concerning “disputed territories in the Middle East”. The IRS may be particularly jumpy about purported Islamic charities since the fall-out from the case of Muhamed Mubayyid and Care International, Inc, which turned out to have some purposes not usually thought to be exempt – like funding jihad.
IRS Eases Up On War Tax Resisters
If a taxpayer submits a document with a frivolous argument to the IRS, a penalty under section 6702(a) will apply only if the taxpayer files a purported tax return that either does not contain information on which the substantial correctness of the self-assessment may be judged or contains information that on its face indicates that the self-assessment is substantially incorrect. I.R.C. §6702(a)(1).
Pot Growers Exempt Application Goes Up In Smoke
Your activities violate this general principle. Your primary activity, facilitating and organizing transactions between members who cultivate and possess cannabis, is illegal under Federal law. You enter into agreements that give you title to the cannabis grown by your members. Once you obtain title, you process, sell, and otherwise dispose of it as you decide. Federal law does not recognize any health benefits of cannabis and classifies it as a controlled substance.
IRS Kills Tax Exemption Of Foundation Pushing Eternal Life
The IRS also raised concerns about the independence of the foundation’s grant-making. The Foundation had no written grant application form and no published criteria for grant selection, the IRS complained. Moreover, Saul Kent, the founder of the Foundation and major shareholder of the Buyer’s Club, serves on the boards of companies that have received annual grants from the Foundation. As this old Los Angeles Times article reports, Kent is a longtime advocate of cryonics who received national attention in the late 1980s when he had his late mother’s head surgically removed for freezing.
Government Lawyers Advocate For Atheism As A Religion
Someone make the case that Joe Sixpack has to pay taxes on his income and doesn’t get any exclusion for his singlewide complete with a deck and a mangy dog sleeping under it, while Kenneth and Gloria Copeland live in an 18,280 square-foot lakefront parsonage on 25 acres valued at $6.2 million and exclude hundreds of thousands of dollars from income taxes under the housing allowance
Charity Begins At Home But Cannot End There
To be attached to the subdivision, to love the little platoon we belong to in society, is the first principle (the germ as it were) of public affections. It is the first link in the series by which we proceed towards a love to our country, and to mankind.
Misinformation Causes Loss Of Senior Property Tax Rebate
So if you have paid New Jersey’s high property taxes for ten years you are entitled to some consideration in being able to spend your retirement years in the Garden State and not be forced into joining the Sun City cult.