Hello Blog readers!
I am having a great week – I hope all of you are having as much fun as I am – although you might actually be doing things “normal people” consider fun.
I, on the other hand, am writing a comprehensive tax research paper for a client on recent US Tax Court rulings on Sub Chapter S-Corporations in relation to distributions made to shareholders, expense items considered “disguised” distributions and cases when personal use of inventory is considered a distribution to a shareholder. Additionally, the substantiation accepted by the US Tax Court to prove the validity of distributions made to the shareholders. I am not writing an opinion on anything specific, it’s more like an explanation of the rulings of the court – merely stating the circumstances of the case and the way the court treated the information provided in context of the case.
Usually people hire me to give an opinion on something specific – if a situation or proposed tax transaction conforms to the current tax laws or the possible outcomes of a tax position taken. So this is a bit new for me – the fun never ends!
Hey…you still awake? Yea – well then, why are you snoring?
Anyway here is a video – I hope you like it 🙂