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Category Archives: Tax Court
Boston Bruins 2, IRS 0
The United States Tax Court today looked at whether pregame road meals for a National Hockey League (NHL) team are “meals and entertainment” expense (which would be deductible at 50% of cost) or a “de minimis fringe” and deductible at … Continue reading
Posted in Massachusetts, Tax Court
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2016 Tax Offender of the Year Gets 34 Months at ClubFed
Last April, a husband and wife from Minnesota were indicted on tax evasion charges. There wasn’t anything unusual about what they allegedly did; besides lying to their tax professional and the IRS they deducted personal expenses as business expenses. The … Continue reading
Posted in Tax Court, Tax Evasion
Tagged TaxOffenderOfTheYear
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I See $25,000 In Your Future
When I start reading a Tax Court decision and see the sentence, “Petitioner and her husband derived considerable income from peddling this scheme to gullible individuals,” you know it’s not going to be a good day for petitioners. But I’m … Continue reading
Posted in Tax Court
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The TurboTax Defense Fails Again
A gentleman who is normally an expert witness in trials used TurboTax to prepare his returns. His returns ere reviewed by the IRS; the IRS claimed he took a few too many deductions. The taxpayer felt otherwise, and the dispute … Continue reading
Posted in Tax Court
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Consulting, Gambling; There’s No Difference, Right?
The Tax Court looked at an individual (call him “Mr. A.”) who looked like a professional poker player, appeared to have an income from poker, but was described on his tax return as a “consultant.” His tax return showed less … Continue reading
No Gambling Log, No Problem, Right?
Two married poker players worked as house players (commonly called “proposition players” or “props”) in California. They were paid wages for their work, but they had gambling winnings that they didn’t include on their tax return. They state they lost … Continue reading
Substance Over Form
The Tax Court looked today at a worker in Hollywood. He thought he was a contractor; the IRS felt he was an employee. Who was correct? Our favorite judge of the Tax Court, Judge Mark Holmes, authored the opinion so … Continue reading
If a Professional Prepares Your Return, Are You Exempt from the Accuracy-Related Penalty?
An attorney’s tax return had two major errors: $450,000 of gross receipts were left off the return and $505,417 of Contract Labor expenses were deducted as not only Contract Labor but also as Cost of Goods Sold. The return was … Continue reading
Not a Pigg or a Turkey of a Decision
Clarence Leland is an attorney in Mississippi. However, he bought a farm in Turkey, Texas. He entered into a crop share agreement with a Mr. Pigg. The farm didn’t make money, and Mr. Leland claimed the losses on his 2009 … Continue reading
Posted in Tax Court
Tagged Material.Participation, Passive.Activities
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The 14th Time Wasn’t the Charm
For most of us the saying “If you don’t succeed at first, try, try again,” is good advice. However, it’s not good to try to deduct personal expenses as business expenses on your tax return. It’s an especially bad idea … Continue reading
Posted in Tax Court
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