Tag: Tax Court Case

Decisions — Policing the assets

When is an asset not an asset? Or, more precisely, what is an asset when a specific internal revenue code section doesn’t contain a definition?

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Decisions — Taxing choices


How many options can you consider before you find yourself longing for simplicity?

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Decisions — Group surgery

A group of unicorns may or may not be called a blessing, but one thing is certain: owners of multiple business activities seldom use that word to describe IRS inquiries into how those activities are grouped.

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Decisions — On the payroll

Paychecks may be proof that an employer has a sense of humor. Unfortunately, the IRS generally doesn’t find payroll amusing.

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Decisions — Phantom regulations


Are you haunted by phantoms? Sometimes courts are too.

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Decisions — Seeds of success


From small seeds come tax deductions for farmers.

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Decisions — The keys to success

Image source: Evan-Amos (Own work) [Public domain], via Wikimedia Commons

Sometimes you no sooner find the keys to success than the locks get changed.

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Decisions — Can they do that?

Image source: Walter Montgomery [Public domain], via Wikimedia Commons

According to the wisdom of Dr. Seuss, only you can control your future. In the less insightful realm of taxes, wills and trusts attempt to provide a way of controlling the future by authorizing specific actions to be taken after death.

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Decisions — Forfeiting the capital gain

Image source: Free Picture 258479 Johanna Goodyear Dreamstime Stock Photos

What is a capital asset? Section 1221 of the internal revenue code defines a capital asset primarily by explaining what a capital asset is not.

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Decisions — Firing up the reasonable cause

Image source: By Farmercarlos (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

According to an old cartoon, to err is human, and subject to penalty. If you’ve erred on your taxes and incurred a penalty, one avenue of relief is reasonable cause.

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