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.

Monday, May 29, 2023

Substantially Disclosing A Gift To The IRS

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Take a look at this memorable prose:          Sec 6501(c) (9) Gift tax on certain gifts not shown on return. If any gift of property the...
Monday, May 22, 2023

Tax Preparer Gives Gambler A Losing Hand

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  I am looking at a bench opinion. The tax issue is relatively straightforward, so the case is about substantiation. To say that it went o...
Sunday, May 14, 2023

Backup Withholding On A Gig Worker

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I am minding my own business when an IRS notice lands in my office. Here is a snip: Question: is this bad? Answer: it might be. Let’s ...
Monday, May 8, 2023

Penalty Abatement For Preparer Errors

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  I was looking over a law review article weighing the pros and cons of different types of Tax Court decisions. Nerd train, I admit. But...
Sunday, April 30, 2023

Do Not Do This When Buying Disability Insurance

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  It is a tax trap. An employer thinks that they are doing a boon for their employees by providing a tax-exempt fringe benefit. Where is t...
Thursday, April 27, 2023

Losing A Casualty Loss

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  I have stayed away from talking about casualty losses. To be fair, one needs to distinguish business casualty losses from personal casua...
Saturday, April 22, 2023

Blowing Up A Charitable Remainder Trust

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I was helping a friend (and fellow CPA) with a split-interest trust this busy season. Let’s review the tax jargon in this area. A split-...
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Cincinnati Tax Guy
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