Cincinnati Tax Guy

Steve Hamilton is a Tampa native and a graduate of the University of South Florida and the University of Missouri. He now lives in northern Kentucky. A career CPA, Steve has extensive experience involving all aspects of tax practice, including sophisticated income tax planning and handling of tax controversy matters for closely-held businesses and high-income individuals.

Showing posts with label insolvent. Show all posts
Showing posts with label insolvent. Show all posts
Sunday, May 19, 2024

Income And Cancellation of Indebtedness

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  I am reading a case about cancellation of indebtedness income.   Let’s take a moment to discuss the concept of income in the tax Code.  ...
Monday, July 17, 2023

Income And Cancellation of Bank Debt

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  There is a basic presumption in the tax Code that any accession to “wealth” is income. It isn’t much of a leap for the tax Code to then sa...
Sunday, December 20, 2020

Inheriting A Tax Debt

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  I am looking at a decision coming from a New Jersey District Court, and it has to do with personal liability for estate taxes. Clearly t...
Sunday, August 2, 2020

Are You Insolvent Or Not?

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There is a case called Hamilton v Commissioner . It was recently decided in the 10 th Circuit, and it caught my eye. Since it went to a C...
Friday, June 19, 2015

A Representative’s Tax Proposal for Credit Card Debt Forgivenesss

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I am reading that Representative Scott Peters (D-CA) has proposed a change to the tax Code allowing forgiveness of credit card balances...
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