Estate Tax Issues
Basis

Effects of the Build Back Better Act on Estates and Trusts

Examining the Effects of the Build Back Better Act on Estates and Trusts On September 13, 2021, the House Ways and Means Committee released the legislative text of proposed tax changes to be incorporated into the omnibus reconciliation bill known as the “Build Back Better Act.”  One wonders if the geniuses behind the BBBA intended the acronym to be pronounced as “Bubba,” but one thing is sure—having now read BBBA as “Bubba” you will never

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Scott St. Amand September 20, 2021
Income Tax Issues
Comparable Sales

Johnson v. Commissioner
T.C. Memo. 2020-79

On June 8, 2020, the Tax Court issued a Memorandum Opinion in the case of Johnson v. Commissioner (T.C. Memo. 2020-79). The issues before the court in Johnson v. Commissioner were (1) whether the petitioner is entitled to deduct certain expenses on his Schedules F (Profit or Loss from Farming) for the years in issue; and (2) the valuation of a conservation easement. Driving Between Two Places of Business Deductible (if One is Not Your

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Scott St. Amand June 8, 2020
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Effects of the Build Back Better Act on Estates and Trusts

Examining the Effects of the Build Back Better Act on Estates and Trusts On September 13, 2021, the House Ways and Means Committee released the legislative text of proposed tax changes to be incorporated into the omnibus reconciliation bill known as the “Build Back Better Act.”  One wonders if the

Read More »
Scott St. Amand September 20, 2021

Johnson v. Commissioner
T.C. Memo. 2020-79

On June 8, 2020, the Tax Court issued a Memorandum Opinion in the case of Johnson v. Commissioner (T.C. Memo. 2020-79). The issues before the court in Johnson v. Commissioner were (1) whether the petitioner is entitled to deduct certain expenses on his Schedules F (Profit or Loss from Farming)

Read More »
Scott St. Amand June 8, 2020