Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
"The IRS says movie star Nicolas Cage used a company he owns to wrongly write off $3.3 million in personal expenses, including limos, meals, gifts, travel and his Gulfstream 1159A turbojet. ... The feds hit Cage both ways, denying Saturn a deduction for the disputed expenses while taxing Cage individually on the perks as salary and "constructive dividends."
Nice work if you can get it (this isn't his):
The Honorable Judge Roy Bean The world is a car and you're a crash-test dummy. The Devil Makes Three
That isn't a jet. It is a car. Well, most of the time when it is not in the air it sits on concrete and can be used to drive business clients to the airport.
Are you saying that Ron Paul serves as a convenient chew toy to keep stupid puppies occupied so they don't roll in the garbage? -grixit
Isn't this the way it is supposed to work. You have a disagreement over proper or improper deductions, you go to Tax Court, reach a settlement, pay the bill, and get on with your life.
