Court to planners: No documentation, no deductions
The U.S. Tax Court recently denied an income tax deduction for rental payments associated with taxpayers' financial planning…
The U.S. Tax Court recently denied an income tax deduction for rental payments associated with taxpayers' financial planning business.
The taxpayers produced no evidence that the costs were incurred. In fact, the Tax Court could not even apply the "Cohan rule" (whereby the Internal Revenue Service
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