Taxpayer’s charitable deduction for artwork donation denied

Posted on December 2, 2022.

The Tax Court denied an art collector and dealer’s claimed charitable deduction for donated artwork because, it held, the taxpayer lacked reasonable cause for his failure to properly substantiate the deduction.

Facts: The taxpayer, He…

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The rise of the cash balance pension plan

Posted on January 1st, 2023.

Many successful business owners and professionals begin their high-earning years belatedly because of lengthy educational requirements and initial careers as employees. Financial planning for this group may come late, but there are ef…

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