Tax Court

Making a Household Inventory List Can Save Time and Money

Julian Block | Posted 07.31.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Theft Losses, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Taxes/Individual, Casualty Losses, Audits, Tax Savings, Taxes/Family, Taxpayer Information, IRS Audits, Deductions, Business News
Julian Block

Did you know that the tax code allows you to claim tax deductions for household damage caused by thefts, vandalism, fires, floods, hurricanes and others kinds of casualties?

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Travel Deductions for Gamblers

Julian Block | Posted 06.04.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Ga, Tax Planning, Tax Audits, Penalties, Taxpayer-Information, Taxes/Small Business, Tax Advice, Gambling, Travel Deductions, Income Tax, Taxes/Individual, Audits, Tax Savings, Taxes/Family, IRS Audits, Deductions, Business News
Julian Block

The tax rules for gamblers can be summed up simply: "Heads, the IRS wins; tails, gamblers lose." The faux-friendly feds routinely nail gamblers for taxes on their winnings.

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Filing-Time Fantasies

Julian Block | Posted 05.25.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Taxes/Individual, Audits, Tax Savings, Taxes/Family, Taxpayer Information, IRS Audits, Deductions, Business News
Julian Block

Most myths are fairly short lived. Some, though, just refuse to die. Take, for example, the one that makes the rounds every filing season about how to lessen the likelihood of an audit.

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Extra Time to File Form 1040

Julian Block | Posted 05.25.2011

Read More: Taxes, Income Taxes, Tax Court, Internal Revenue Service, Tax Planning, Tax Audits, Penalties, Taxes/Small Business, Tax Advice, Income Tax, Filing Extension, Taxes/Individual, Audits, Tax Savings, Taxes/Family, Taxpayer Information, Form 4868, IRS Audits, Deductions, Business News
Julian Block

For most people, this year's deadline for filing Form 1040 is Monday, April 18. Miss the deadline and you could get slapped with a substantial, nondeductible penalty.

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Bad Debt Deductions for Worthless Loans to Spouses

Julian Block | Posted 05.25.2011

Read More: Marriage, Irs, Divorce, Tax Court, Engagements, Bad Debts, Tax Deductions, Business News
Julian Block

The law presumes that loans from one spouse to another don't create valid debts. But can an unreturned engagement ring be a deductible bad debt?

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Sex Change Surgery, Expenses Are Tax Deductible, Tax Court Rules

AP | DENISE LAVOIE | Posted 05.25.2011

Read More: Taxes, Tax Court, Transgender Rights, Tax Rules, Internal Revenue Service, Sex Change Operation, Lesbian, Trans Rights, Gay, Gender, Sex Change Cost, Transgender, Irs, Sex Change Surgery, Health Care, Medicine, Home News

BOSTON — The U.S. Tax Court ruled Tuesday that a Massachusetts woman should be allowed to deduct the costs of her sex-change operation, a decisi...

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