This week we look at a case involving two doctors who receive funds from the local school to use for the education of their autistic child. The doctors attempted to claim they were running a business and attempted to deduct the net losses they incurred. The Tax Court analyzed this case under Section 183.

We also go on beyond this case (whose result probably isn't surprising to most listeners) to discuss the general "hobby loss" rules under Section 183. The materials can be downloaded here.

I will be in Tulsa, Oklahoma this week speaking on technology and the tax practice, so hopefully we'll get the podcast up timely this week, but it may be delayed.

We look at a recent private letter ruling where the IRS made it clear that taxpayers who use the 60 day rollover rule to "borrow" from their IRA do so at their own risk, even if events completely out of their control intervene to make it impossible to complete the rollover.

This podcast discusses the law surrounding the 60 day rollover, and the details of this particular ruling. Be sure to download the materials before listening to the podcast.

I am posting this from The Founders Inn in Virginia Beach, Virginia, where the second run of the Virginia Accounting & Auditing Conference is talking place. I'll next be speaking (again on technology matters) at the Oklahoma Tax Institute on December 2. Information on that conference can be found at this website.

This week's podcast is based on my presentation today at the Arizona Society of CPAs' Arizona Federal Tax Insitute held at the Arizona Biltmore. The Biltmore is located just south and slightly west of Piestewa Peak and not terribly far from my office in Phoenix (less than a ten minute drive--and that only because my office is closest to the back side of the resort, so you have to drive around it first).

There are a number of pieces of material for this podcast available. You probably will want each of the following:

1. The Manual

2. Excel Example File

3. The Slides

In the upcoming week I will be in Virginia Beach, Virginia for the Virginia Accounting and Auditing Conference's second run. It will be the same presentation I gave in Roanoke back in September.

I have two more "on the road" presentations scheduled--the first in Tulsa, Oklahoma for the Oklahoma Tax Institute where I'll do a technology update for tax professionals on December 2. The next (and most likely final) road trip this year will be at the Ohio Society of CPA's Ohio Federal and State Tax Insitute to be held in Columbus on December 15 and 16th. I'll be doing the Federal Tax Update the morning of the 15th.

If any of you are going to be attending those conferences, let me know or stop by and say hi at the conference.

This podcast deals with three cases that dealt with attempts to have the court deal with the substance of a transaction as opposed to its form. We'll discuss why the IRS can succeed at this, while taxpayers have an uphill fight in most cases.

This week's developments in the area of extensions for 2006 and the IRS's losing battle on the excise tax on flat rate per minute long distance and the excise tax on toll calls are also discussed.

The materials can be downloaded here.