Tax Law Commons^™

Medical Deduction: Scope And Purpose

Indiana Law Journal

No abstract provided.

Tax Planning For Nontaxable Estates, William J. Bowe

Vanderbilt Law Review

Owners of modest estates are always greatly relieved to learn of the liberal federal estate tax exemption of $60,000. Freed from the burden of federal estate tax planning they frequently turn their attention to methods of transferring property which will avoid the heavy cost and delay incident to probate administration. Joint ownership, gifts of remainder interests, donee-beneficiary contracts, revocable trusts are among the more common devices available. Use of any one of these plans may accomplish a shift in possession and enjoyment of property upon the death of the planner with no delay and minimum expense.

But the income tax …

Taxation Of Royalties Received By The Employed Inventor

Indiana Law Journal

No abstract provided.

Basic Criteria For Distinguishing Revenue Charges From Capital Expenditures In Income Tax Computations, Abe L. Shugerman

Michigan Law Review

In the sections that follow, every effort has been made to deduce the motivating philosophy behind the judicial decisions that have been rendered on this question. Courts, themselves, have never paused to prescribe any detailed criteria to be applied, but an examination of the opinions has revealed that consciously or unconsciously the courts have been moved by such basic criteria. Even though such criteria may not have been precisely designated, they have been present, they have been utilized, and interestingly enough, the courts have been amazingly consistent in their applications of these criteria.

The Taxable Income Of Cooperatives, Roswell Magill, Allen H. Merrill

Michigan Law Review

This article is a study of the exemption in section 101(12) of "farmers', fruit growers', or like associations organized and operated on a cooperative basis"; and, in particular, of the taxability of the income of such corporations. The basic question is, What is the taxable income of a cooperative, in the absence of statutory exemption or exemption by administrative ruling? Do such business corporations have an income from their businesses which in these days of revenue stringency should be taxed as other business income must be taxed?

Taxation-Income Tax-Deductions For Expenses Of Army Officer, Daniel A. Isaacson S.Ed.

Michigan Law Review

Respondent, having had experience as an executive of a large machine tool distributing company, went to Washington, D.C. in 1942 at the request of the Ordnance Department of the United States Army to assist in the efficient distribution of machine tools, serving in a civilian capacity without compensation. During the year, he was commissioned in the army, attaining the rank of Lieutenant Colonel, and was assigned to the Army & Navy Munitions Board as Ordnance Officer, in which capacity he had to keep in contact with manufacturers of production equipment as well as with various government agencies. In his income …

Freedom From Uncertainty In Income Tax Exemptions, Maurice Finkelstein

Michigan Law Review

Exemptions from obligations to government are as old as Scripture. It is not strange, therefore, that the public interest in humane government should dictate numerous exemptions from the income tax levy, particularly when one considers that the income tax has long ceased to be simply a revenue producing vehicle. The regulation of inflation or deflation, the control of corporate financial structures, the distribution of wealth, all these and many other concern of government have entered into the formula of our income tax laws. The selection of those who are to be benefited by the tax exemption is, of course, made …

Taxation-Federal Estate Tax-Transfers Of Life Insurance In Contemplation Of Death, Ralph E. Hunt S. Ed.

Michigan Law Review

Insurance policies on the life of a decedent are ordinarily included in his gross estate according to the provisions of section 811 (g) of the Internal Revenue Code. Where the policy is payable to a beneficiary other than the executor, it is taxable under section 811(g)(2): (1) if the decedent paid premiums on the policy, in proportion to the amount of premiums paid by him in relation to the total premiums paid, or (2) if the decedent possessed at his death any of the incidents of ownership. However, these provisions are not exclusive; even though section 811 (g) is inapplicable, …

Tax Practitioners Forum, Michigan Law Review

Michigan Law Review

A Review of TAX PRACTITIONERS FORUM

Stanley And Kilcullen: The Federal Income Tax: A Guide To The Law., Michigan Law Review

Michigan Law Review

A Review of THE FEDERAL INCOME TAX: A GUIDE TO THE LAW. By Joyce Stanley and Richard Kilcullen.