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Week in Review 4.9 – 4.14.2012
Week in Review 4.9 – 4.14.2012 The President released his 2011 tax return. I’m no political pundit, but I’m guessing Obama’s decision to claim the 14 million unemployed Americans as...
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Senate Poised to Vote On Buffett Rule. In Other News, Golden Corral Patrons Agree That Buffets Rule
Senate Poised to Vote On Buffett Rule. In Other News, Golden Corral Patrons Agree That Buffets Rule As the filing deadline draws mercifully closer, the nation’s tax geeks are finally...
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Couple’s Inability To Grasp The Complexities of The Gregorian Calendar Dooms First-Time Homebuyer Credit
Couple’s Inability To Grasp The Complexities of The Gregorian Calendar Dooms First-Time Homebuyer Credit In places, the Internal Revenue Codeis a complicated mess; a tangle of poorly structured provisions and...
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House Votes Yes On Small Business Bill; Tax Court Holds Documentary Filmmaking Activity To Be Trade or Business, Not Hobby
House Votes Yes On Small Business Bill; Tax Court Holds Documentary Filmmaking Activity To Be Trade or Business, Not Hobby Surprising absolutely no one, the Republican dominated House passed majority...
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Week in Review: 6.4 – 6.8.12
Week in Review: 6.4 – 6.8.12 Tax Court validates common S corporation planning idea used to create basis. Clinton wants tax cuts; Jeb Bush tax increases. What’s next: wearing hats...
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How Apple Shaves $2.4 Billion Off Its Federal Tax Bill
How Apple Shaves $2.4 Billion Off Its Federal Tax Bill From the New York Times comes this excellent article detailing the strategies employed by Apple’s army of tax advisersto minimize...
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92-Year-Old Angel of Death Sentenced on Tax Evasion Charges
92-Year-Old Angel of Death Sentenced on Tax Evasion Charges It’s not uncommon for the IRS to have to do the law enforcement’s dirty work. Most famously, the Service brought down...
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Avoiding The Trap on Employer-Owned Life Insurance Contracts
Avoiding The Trap on Employer-Owned Life Insurance Contracts On corporate tax returns, it’s second nature to disallow any deductions for “officer’s life insurance premiums” expensed on the corporation’s books. But...
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Just Because the IRS Fails to Respond to Your Nonsensical Letters, It Doesn’t Make Them Any Less Nonsensical
Just Because the IRS Fails to Respond to Your Nonsensical Letters, It Doesn’t Make Them Any Less Nonsensical Despite driving a truck for a living, Kevin Holloway was confident he...
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De-Friending America May Save Facebook Founder $67 Million
De-Friending America May Save Facebook Founder $67 Million Building on our previous post regarding the decision by Facebook co-founder and current 4% shareholdersEduardo Saverin to renounce his U.S. citizenship in...