Tax Section
Our Annual Workshop In Kiawah Is Just Two Months Away
On Wednesday, March 7, the Tax Section Council met at the Mecklenburg County Bar Center in Charlotte, and so I wanted to give everyone an update on some of…
Federal Income Tax Update, Part I
I. Audit Statistics; What Are Your Chances of Being Audited? The 2016 Internal Revenue Service Data Book (IR-2017-69) contains audit statistics for the fiscal…
Tax Reform: Selected Planning Points
Below are selected planning points regarding recent tax changes. This summary does not discuss which provisions are temporary and which are permanent. A.…
What Businesses Should Know About Business Personal Property Tax
The majority of property tax appeals concern arguments over the value of real estate, such as commercial retail buildings, commercial office buildings,…
Tax Questions For Discussion: Please Respond
Please provide comments about the issues below to Herman Spence at [email protected]. I will summarize the responses and post them on the Tax…
From the Chair: Kiawah In the Rear View — and On the Horizon
It was great seeing many of you over Memorial Day weekend at the North Carolina/South Carolina/Georgia Tax Update program in Kiawah. A special thanks to Isaac…
Federal Income Tax Update: Part 2
I. Hobby Losses: Horse Breeder Had For-Profit Activity. The 7th Circuit Court of Appeals reversed the Tax Court and held Mr. Roberts engaged in his horse…
Discharging Individual Income Taxes In Bankruptcy: Five Easy Pieces
A well-timed bankruptcy can be a powerful arrow in the quiver of a taxpayer with burdensome tax debt. Many lawyers and tax professionals are not aware a…
The Chair’s Comments: Kiawah is Calling
Tax Section Fellow Tax Section Members: It is hard to believe only three months remain in my term as chair of the Tax Section. It has been a rewarding…
Your Client Lost His Case To the IRS: Are His Accountant and Attorney Fees Deductible?
Section 212(3) of the Code provides in pertinent part: “In case of an individual, there shall be allowed as a deduction all the ordinary and necessary…