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Tax Court Delivers Mixed News on Charitable Appraisals

A Costly Lesson in Valuing Conservation Easements Donating a conservation easement can lead to significant tax deductions for individuals and businesses. However, a new Tax Court case, Savannah Shoals, LLC, Green Creek Resources, LLC (TC Memo 2024-35, 3/26/24), highlights the

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February 19, 2025 No Comments
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Tax Court Sides with IRS: Businesses Must Prove Expense Deductions

Lack of Proper Documentation Leads to Denied Tax Deductions Self-employed individuals can deduct “ordinary and necessary” business expenses, just like large corporations. However, they must follow strict substantiation rules to claim these deductions. In a recent case—Kalk, TC Memo 2024-82

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February 18, 2025 No Comments
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