Showing posts with label substantiation. Show all posts
Showing posts with label substantiation. Show all posts
Saturday, December 7, 2024

Why Do We Keep Vehicle Logs?

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   November proved to be an interesting month here at Galactic Command. Everything changes; we have changed; there is sadness about the ch...
Monday, January 30, 2023

Donating Cryptocurrency

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  I was reading something recently, and it reminded me how muddled our tax Code is. Let’s talk about cryptocurrency. I know that there is ...
Tuesday, December 27, 2022

No Deduction For African Sculpture

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  You can anticipate the final decision when you read the following sentence: One does not need to be a tax expert to open his eyes and re...
Sunday, March 4, 2018

Should I Have A Separate Bank Account For …?

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One of the accountants recently told me that a client had asked whether he/she should set-up a separate bank account for their business. ...
Saturday, August 19, 2017

Keep It Believable

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Our protagonists this time are the Ohdes from West Virginia. The issue concerns charitable contributions. The Ohdes claimed they made dozen...
Friday, February 24, 2017

The $64 Million Question

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Let’s talk about hard rules in the tax Code. Let’s say that you donate $500 to your church or synagogue. You come to see me to prepar...
Wednesday, June 27, 2012

IRS Fires Revenue Agent Who Lost Own Case in Tax Court

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Would you be aggressive on your taxes if your job was on the line? I am reading Agbaniyaka v Commissioner . Benjamin Agbaniyaka (Ben) sta...
Thursday, June 7, 2012

Taxpayer Loses Charitable Deduction for Lack of Appraisal

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Joseph Mohamed seems a good sort. He and his wife live in Sacramento, California. He is a successful real estate professional. In 1998 they...