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Tax planning is like football.  Planners (offense) look to exploit weaknesses in the Tax Code, while the IRS (defense) constantly seeks to plug any holes.  This is why the Internal Revenue Code is so complicated – because it resembles a leaky dike fortified with duct tape to plug the holes. Tax planning tends to elevate ...

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THE PURSUIT OF HAPPINESS AND TAX DEDUCTIONS (Hobby Loss Limitations)
“The highest form of bliss is living with a certain degree of folly.”  Desiderious Erasmus   Dr. McCoy folded his knife blade and tucked it back in to his pocket as the Montana sun rose above the mountains. Hanging before him was a freshly dressed elk he took just a few hours before.  He warmed his hands ...

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ONE CALL, THAT’S NOT ALL (Deducting The Cost of Legal Fees)
“The power of the lawyer is in the uncertainty of the law.” Jeremy Bentham Doctor Walter Palmolive arrived at Hwang National Park in Zimbabwe on June 30, 2015. The sweeping savannas spread out like an ocean vista and held host to the most feared and well known predators in all of Africa. An Expensive Game ...

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