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Full-Text Articles in Law
Deconstructing The General Plan Of Rehabilitation, John W. Lee
Deconstructing The General Plan Of Rehabilitation, John W. Lee
Faculty Publications
The general plan of rehabilitation doctrine provides that expenses incurred as part of a plan of general rehabilitation must be capitalized even though the same expenses incurred separately would be deductible as ordinary and necessary repairs. The emerging general standard after INDOPCO for current deduction of an expenditure with future benefits, the case with most repair/ improvement expenditures, is a balancing test: Whether the taxpayer ’s administrative and record keeping costs associated with capitalization outweigh the potential distortion of income from a current deduction of the future benefit expenditures. “Rough justice” rules for current deduction of future benefits expenditures, reflecting …
Transaction Costs Relating To Acquisition Or Enhancement Of Intangible Property: A Populist, Political, But Practical Perspective, John W. Lee
Faculty Publications
No abstract provided.
Drawing The Line Between Taxes And Takings: The Continuous Burdens Principle, And Its Broader Application, Eric Kades
Drawing The Line Between Taxes And Takings: The Continuous Burdens Principle, And Its Broader Application, Eric Kades
Faculty Publications
No abstract provided.
Income Tax Planning For Long-Term Care, David M. English
Income Tax Planning For Long-Term Care, David M. English
Faculty Publications
Planning for long-term involves more than the preparation of powers of attorney and counseling on possible asset transfers to qualify for Medicaid reimbursement. Steps should also be taken to make certain that the person receiving care continues to file an income tax return and does so at a minimum possible income tax cost. Practitioners should be familiar with the procedure for filing a return on behalf of an incapacitated individual. The medical expense deduction, while of little importance for most taxpayers, is critical for many elderly, particularly for those receiving long-term care. Long-term care insurance and life insurance may be …