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, July 3, 2023

A Firefighter Sues

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The taxation of legal settlements can be maddening. The general rule is found in IRC Section 61, which can be colloquially summarized as: ...
Monday, June 26, 2023

Failing To Take A Paycheck

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I am looking at a case involving numerous issues. The one that caught my attention was imputed wage income from a controlled company in the ...
Sunday, June 18, 2023

Offer In Compromise And Reasonable Collection Potential

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Command Central is working two Collections cases with the same revenue officer. For the most part, I am staying out of it. There is a youn...
Sunday, June 11, 2023

Gambling As A Trade Or Business

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  The question came up recently: How does one convince the IRS that they are a professional gambler? The answer: it is tough. But not im...
Sunday, June 4, 2023

The Gallenstein Rule

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  It is a tax rule that will eventually go extinct. It came to my attention recently that it can – however – still apply. Let’s set it u...
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...
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Cincinnati Tax Guy
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