Most Recent Posts
Tax Court’s Third Strike on Hypothetical Mining Valuations: Paul-Adams Quarry and the Jones Day Theory Rejected Again
This is where we are now—the Tax Court now tells taxpayers how to conduct their businesses to MINIMIZE tax benefits.
New York’s Tenacious Tax Grip: Lessons from the Hoff Domicile Dispute
The Carolinas, Florida, and Tennessee have emerged as top escape destinations thanks to lower income taxes and property taxes.
Author Calls For Elimination Of Estate Tax And More Tax On The Wealthy
This is something of a review of The Second Estate - How the Tax Code Made an American Aristocracy by Ray Madoff. I pretty much enjoyed the book although I found myself...
When A Foreign Posting Creates Tax Disaster
The litigation highlights the hazard of the lassez-faire approach for employers. On the employee side it illustrates the hazard of relying on your employer to take care of you especially if a short term foreign assignment turns into a much longer one. We may never know how the case turns out, but it is pretty clear that either side would have been served by more forethought.
Smart Ways to Earn a College Degree Without Going Broke
Guest Post by Rita Harris Getting a degree doesn’t have to mean years of financial stress. Today’s students have more tools, paths, and flexible learning models than...
IRS Draft Form Confirms Tip Deduction Marriage Penalty
My friend Grok told me that I was the first commentator to take note of the not tax on tips marriage penalty, but I take compliments from Grok with a grain of salt.
Tax Free Tips For The Piano Man?
So it would appear that whether Bill would qualify for the tips deduction may depend on whether he is an employee or an independent contractor. He passes the occupation test in either case. If he is an independent contractor, however, it would seem that the trade or business involved arguably falls under performing arts and hence denies him the deduction.
Jones Day Easement Valuation Theory Faces Eleventh Circuit Test
A knowledgeable willing buyer would not pay, for one of the assets needed to conduct a business, the entire projected value of the business
Section 183 Hobby Losses Live Video Conference
$99.00 This is a 2-hour live video conference (2 CPE credits) led by Peter J. Reilly, CPA., who has been a tax practitioner for over 44 years, has read and analyzed...
As IRS Withers Tax Pros Still Urge Compliance
What is troubling is that with close to no enforcement, the things that don’t work mostly will work until the pendulum swings and enforcement ramps up. And then there may be wailing and gnashing of teeth.