Would You Believe?

Can a trust make a charitable donation? It may seem like a simple question, but timing is everything, and if trustees don't follow the details of the trust agreement, the charitable deducation can be lost.

Someone Fought Back Against Ohio – And Won

The underlying question in this case is "does the sale of stock in a business operating in a state where you aren't a resident obligate you to capital gains state taxes on that sale?"

You Got Repossessed And The Bank Says You Have HOW MUCH Income?


Caution With S Corporation Losses

The Tax Code allows you to deduct losses to the extent you have money invested in the S. If you try to deduct beyond that threshhold and it isn't your personal money, expect problems with the IRS.

An Extreme Way To Deduct Expenses Twice

Wheat field

A tax is a tax, but to a great extent, the estate tax and income tax stay out of each other’s way. However, there are some exceptions when there are unexpected outcomes when these two taxes intersect.

Personal Taxes

Tax deductions

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Deducting Everything - The Tanzi Doctrine

There is a long-standing doctrine that an employee is "in the business" of being an employee, but one still has to show some nexus between business expenses and being an employee in order to deduct...

Personal Taxes


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The IRS Could Not Collect When the Tax Statute of Limitations Period Expired

There are things that can extend (the technical term is “toll”) the collections period for IRS debt. Make an offer in compromise, for example, and the period gets tolled.

Personal Taxes

Minor Child Workers

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How To Lose A Tax Deduction For Wages Paid

The tax law becomes skeptical about wages when related parties are involved, and you cannot get much more related than a mother and her children.

Personal Taxes


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Tax Mulligans and Tennessee Walking Horses

The IRS reserves the right to challenge how you structure a transaction, but – once decided – you yourself are bound by your decision.

Personal Taxes

broken heart

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Romancing The Income

A romance starts with a legal agreement between our lovers and a $400,000 payment - nothing says love like a check you can immediately take to the bank.  It devolves into the ex-girlfriend with an...

Personal Taxes

Kiva Dunes

Kiva Dunes Golf Course (Gulf Shores, Alabama) | |

Getting A Tax Deduction From A Golf Course

In this tax case, the golf course owner won, sustaining a large deduction for a conservation easement, and the Administration was not happy.