Most Recent Posts
IRS Veteran Carries Fight Against Clergy Tax Abuse into Retirement
Originally Published on forbes.com on February 18th, 2012 ______________________________________ Testing The Constitutional Mettle of IRC 107! I have written a bit...
Fantasy Gravel Mining And Other Fun From the Tax Court
There is a really interesting discussion of what is involved in imagining a fantasy gravel mine – things like whether the power company will backhaul the gravel for you in its coal hoppers. The Tax Court valued the easements at less than 10% of the taxpayer’s valuation.
Court Stomps on Clergy Tax Abuse
Originally Published on forbes.com on February 15th, 2012 ______________________________________ Phil Driscoll is an ordained minister and quite a trumpet player. He...
If You Want to Rely on a Lease for Tax Purposes You Need to Follow It
Originally Published on forbes.com on February 14th, 2012 ______________________________________ Nobody is going to care about this case , but I have to write about it...
Pardon By President Ron Paul – Last Hope for the Browns ?
Originally Published on forbes.com on February 13th, 2012 ______________________________________ Ed and Elaine Brown recently received bad news from the First Circuit. ...
IRS Has To Play Ball With Mets on Darryl Strawberry’s Money
Originally Published on forbes.com on February 10th, 2012 ______________________________________ According to the Baseball Almanac, Darryl Strawberry in his seventeen...
Be Prepared to Prove the Time You Spend on Losing Side Activities
Originally Published on forbes.com on February 5th, 2012 ______________________________________ If you have a lucrative day job and lose money on a different business...
A Bar Called Murphs – New Jersey Politics – Understated Income – Shocking Combination
Originally Published on forbes.com on February 4th, 2012 ______________________________________ There are some cases I just cannot resist. ANTHONY MURPHY, INC. t/a...
Chase Tries to Fix Mortgage Screw-up by Arguing Borrower Not Good at Latin
Originally Published on forbes.com on February 2nd, 2012 ______________________________________ I guess it has become apparent that “securitizing” some mortgages was...
IRS Wins a Horse Case for a Change
One of the keys in winning a hobby loss case is that you show the Court that you were paying attention to your results and modifying based on experience to get more profitable, even if you are ultimately unsuccessful. The Bronson’s plan to buy their own place indicates that type of thinking. However, they took a long time to do it, which might be a sign of prudence, but during that time they continued to acquire more ponies. That seems to have been the Court’s greatest criticism of their profit motive.