Most Recent Posts
Excesses of the Eighties – CPA Remains Liable on $19,000,000 Tax Debt
Originally Published on forbes.com on November 9th, 2011 ______________________________________ The Third Circuit has upheld a district decision to not discharge the...
Reduction in Gift Tax Exclusion May Have a November 23 Effective Date
Originally Published on forbes.com on November 9th, 2011 ______________________________________ Subsequent inquiry has made me a little more skeptical about these...
IRS Fight Against Sex Change Deduction Was Stupid
Originally Published on forbes.com on November 7th, 2011 ______________________________________ It is not unusual for the IRS to lose in court. It is unusual for them...
IRS Accounting Method Change Prevents Escape by Statute of Limitations
Originally Published on forbes.com on November 7th, 2011 ______________________________________ The Fifth Circuit has upheld the Tax Court in their decision last fall...
Kentucky Court Rules Expedia Not Required to Remit All the Room Taxes it Collects
Originally Published on forbes.com on November 6th, 2011 ______________________________________ Many localities tax hotel room occupancy and admissions to entertainment...
Sprint Uses Partnership Structure to Dodge Louisiana Corporate Tax
The Department does not appear to dispute any of these facts. Instead, the Department contends that the companies are subject to the franchise tax based on the actions of other entities. The Department emphasizes the fact that the companies are wholly-owned subsidiaries of Sprint Corporation and that the companies, along with US Telecom, Sprint Communications LP’s general partner, acted in unison and with a common purpose, controlled by their common parent.
Seventy Major Employers Line Up Against DOMA
Originally Published on forbes.com on November 4th, 2011 ______________________________________ Seventy employers, including giants such as Microsoft and Starbucks,...
Can You Play the Lottery as a Business?
Originally Published on forbes.com on November 3rd, 2011 ______________________________________ Gambling losses are only deductible to the extent of gambling winnings...
When Will the Education Bubble Explode?
At this present time, I don’t see the education bubble popping. But the education bubble could pop quickly because two of the major factors – the current and future attitudes – tend to change faster than many economists know (consider how quickly Americans changed their spending behavior after the last recession). Or the education bubble could pop in the sense that there’s a liberal art explosion – students finally realizing that math-related fields trump art-related fields. Either way, I do agree with both Mish and Thiel on one thing: the amount of student loan balances that we see are unsustainable and something will eventually happen.
Capital One Not Putting Refund on $400,000,000 into its Wallet
Originally Published on forbes.com on November 2nd, 2011 ______________________________________ A sure way to put someone to sleep is to explain double declining...