A taxpayer's attempt to create some black letter law (bathed perhaps in red light) failed when the Tax Court said, in effect: Madame, the wages of sin are not exempt from taxation!James J. Freeland, et al., Fundamentals of Federal Income Taxation: Cases and Materials, 14th Edition 62 (2006).
Wednesday, September 05, 2007
Oy vey
My dad is an accountant. Let me just say I'm not surprised. From tax homework:
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6 comments:
Your dad makes bad jokes too?
Hmm. Maybe it's a dad thing and not an accountant thing. The Missus accounts, but she doesn't make any bad jokes.
So now that you've had the discussion on income exclusions, would a regular John's gratuity be a gift and therefore exempt from gross (and I do mean "gross") income, or a taxable item?
I'm under the firm belief that tips are gross income no matter what, unless the tipper has a detached and disinterested generosity. Here, there may be some significant gratitude, but, if he is a regular, then he is probably trying to encourage quality future performance. Tough call.
Do you know anybody we can use to manufacture a case?
I'm offended alico/avacado/germy. Very offended.
Are you suggesting you wouldn't want your name in the "Counsel" section of a Supreme Court case?
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