I Can Lower Your Taxes By Magic!

I can’t, but Joe Kristan of Roth Tax Updates has the story of yet another interesting case from the Tax Court today. If your business is grossing $2.5 million to $3 million each year, and you’re paying about $45,000 in federal and state taxes each year, and a new tax preparer says he can lower your taxes to almost nothing, be sure to ask how he’s going to accomplish that magical feat. And if you later discover your tax preparer is in Leavenworth, well, perhaps you’ve figured out how the magic is done. You can find all the gory details here.