Your basis in any partnership is the amount you have invested, and that’s especially true for tax law.
Decisions– Your estimate may vary
According to an old expression, the only difference between an estimate and a guesstimate is the confidence of the person providing the answer.
Definitions — Paying the piper
Whether you believe the expression comes from the Pied Piper of legend or the old proverb, paying the piper does not always mean you get to call the tune.
Posted in Taxing Definitions Tagged with: Definition, tax decisions, tax dictionary, tax terminology, tax terms
Decisions — Canine silence
In the Arthur Conan Doyle short story, Silver Blaze, fictional detective Sherlock Holmes solved the case by inferring intent from silence—the significance of a dog who didn’t bark.
Posted in Taxing Lessons From Court Decisions Tagged with: Tax Court Case, tax decisions, tax terminology
Decisions — Eat, drink, deduct
Even if you don’t eat like a hockey player, you may be interested in the tax court’s take on the rules limiting deductions for meals.
Decisions — Like father, like son
According to the old proverb, children tend to have traits similar to their parents, and tend to do what their parents have done. Does that hold true for tax purposes?
