Sunday, August 28, 2022

Repaying a COVID-Related Distribution

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Do you remember a tax break in 2020 that allowed you to take (up to) $100,000 from your IRA or your employer retirement plan? These were cal...
Sunday, August 14, 2022

A Foreclosure And A Mortgage Interest Deduction

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I am looking at a case involving mortgage interest. While I get the issue, I think the taxpayers got hosed. I am going to streamline the det...
Wednesday, August 10, 2022

Collections and Hutzpah

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  An old partner of mine would have called it “hutzpah.” The case is ridiculous, but it does give us a chance to review the tolling of the...
Saturday, August 6, 2022

Checks Not Cashed In Time Includible In Taxable Estate

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  Let’s talk about an issue concerning gifts. We are not talking about contributions – such as to a charity - mind you. We are talking gif...
Monday, July 18, 2022

The Problem-Child Client: Recidivist

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  It happens: the problem-child client. Let’s talk about one type of problem child: the recidivist. Thomas Kelly was a securities broker...
Sunday, July 10, 2022

IRAs and Nonqualified Compensation Plans

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Can an erroneous Form 1099 save you from tax and penalties? It’s an oddball question, methinks. I anticipate the other side of that see-saw ...
Sunday, July 3, 2022

Can A Business Start Before Having Revenue?

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  It is one of my least favorite issues: when does a business start? The reason is that expenses incurred before the start-up date are con...