Back in October I blogged about Mr. Endicott who got himself embroiled in a skirmish with the IRS over his status as a trader or investor for tax purposes -. 818 more words
Tags » Tax Court
In the gift tax arena, the value assigned to the transferred property can often make or break your high-net-worth clients’ tax planning strategies, leading many clients to move conservatively through the valuation minefield. 112 more words
Wegmans Food Markets Inc. is no longer on the hook for nearly $58,000 in attorneys’ fees related to a tax appeal after a two-judge panel from the New Jersey Appellate Division agreed that the owner of shopping center could not collect the fees as additional rent. 316 more words
Case of the Week - If You Make Noncash Donations - Those Appraisals Made by Employees of Charities May Be Worthless!
The Tax Court disallowed charitable deductions for clothing valued at $9,500 by the taxpayers because they did not obtain qualified appraisals for the contributed property. The taxpayer said that while they could not definitively identify the various persons whose initials appeared on the appraisals submitted as evidence, they assumed the appraisers were volunteer employees of the thrift shop. 30 more words
A New Jersey Tax Court judge reduced the assessment for two of the three years under appeal on an apartment complex in the Town of Phillipsburg. 309 more words
In this commercial tax appeal involving a Hilton hotel, the taxpayer challenged the assessments on its property for the 2010 and 2011 tax years. The subject property operates as a 355 guest room Hilton Hotel and executive conference center. 238 more words