Today in Tax Court Podcast
1) Episode 20 - Youngs v. Commissioner
What happens when you run a ranch at a loss for 14 years and use it against your profitable S-Corp? Sometimes, you get caught. We run through the 9 factor test used by the courts to determine if your ...Show More
2) Episode 19 - Hadar v. NY Appeals
A BIG win for taxpayers who deferred $30 million(!!!) in gain on real estate via a Tenancy in Common (TIC). We get into what is a 1031, what is a TIC, and why I think this is one of the coolest cases ...Show More
3) Episode 18 - Roots v. Commissioner
$3 million for a lodge that has bats and mice living in the walls. Another $4 million to sue the builder and architect who built it all. And all the taxpayer gets in the end is lost deductions and a 2...Show More
4) Episode 17 - History of US Income Tax [Special Edition]
How did we get here? You can learn all the strategy tips you want, but how did our current framework come into existence? Over the last 150 years of our country, layers of tax law and reform have pass...Show More
5) Episode 16 - Norwich Comm. Group v. Commissioner
What happens when your accountant does your accounting AND signs the audit report? Nothing good. In this case, the taxpayer overpaid tax on $7+ million of income and nearly lost the ability to get a d...Show More
6) Episode 15 - WT Art Partnership v. Comm; Pierce v. Comm.
Valuations gone wild - a $26 million Chinese art piece + Udder Covers LLC for $18 million. How does the IRS think about valuations? What methods do they accept? What makes a good valuation stand out f...Show More
7) Episode 14 - Nwafor v. Commissioner
Midwit meme meets Tax Court. How a taxpayer used one-sided journal entries to reduce income and inflate expenses to the tune of $200,000+. bUt ThE wOrK iS wOrTh sO MuCh mOrE! is a common reply when I ...Show More
8) Episode 13 - Cantor Fitzgerald v. Commissioner
After the 9/11 Terror Attacks, millions of dollars in business aid flowed from various government agencies. This case walks us through some of the more common arguments of what is taxable and not taxa...Show More
9) Episode 12 - Hubert Ent. v. Commissioner
Did someone say HoldCo? What happens when your HoldCo crushes it and now you want money out of it? If it's a C-Corp it's tricky. Today's case walks through to common issues: - Getting money out withou...Show More
10) Episode 11 - Weston v. Commissioner
The Tax Court refuses to subsidize "poor investment decisions" of the taxpayer. When Mr. Weston invested $2.1 million of his own life savings into real estate in Indiana that went belly-up, he takes a...Show More