Credit: AFP/Getty Images Getty The stock market has had a good run this year, although there has been one worrying spell as the weather warmed. From the look of things so far, is the old maxim is wrong, that summer is a bad time for equities? Well, perhaps the current rally is due to one-off circumstance,
Taxes
The IRS was looking for $5,167,000 in Code Section 6701 penalties (Aiding and abetting understatement of tax liability) from Martin A Kapp CPA EA. Special Trial Judge Peter Panuthos of the Tax Court in his decision knocked it down to $3,218,000. US Army black and white photos: Sinking ship Getty A Poetic Dispute I don’t know
In the last article of this column, we discussed two big taxpayer wins delivered by the US Supreme Court. One of those wins struck down North Carolina’s statute that imposed income tax on out-of-state trusts with in-state beneficiaries. To quickly recap, under long-standing rules: The trustee’s state of residency could tax all trust income from
Share to facebook Share to twitter Share to linkedin Alimony is no longer tax deductible for new divorces. iStock Balancing family dynamics when going through a divorce is never easy. New laws have added an additional layer of complexity. Before 2019 the alimony deduction had been a key divorce planning strategy for over 70 years. The payor
Russell Westbrook has to be thrilled with is tax-savings “payday”. (AP Photo/Alonzo Adams) ASSOCIATED PRESS The NBA offseason has left every other league in the dust with its drama. As if the first week and a half were not crazy enough, Thursday night the Oklahoma City Thunder traded 2017 MVP Russell Westbrook to the Houston