This week I look at a case involving a Northwest Airlines mechanic who was laid off and ended up using his "bumping" rights in other cities while hoping to return to his original home base.  The question of whether the taxpayer could deduct the expenses of working in the various locations is considered by the Seventh Circuit Court of Appeals after the Tax Court decided no deduction was allowed in the case of Wilbert v. Commissioner, 2009 TNT 12-12, CA7, affirming TC Memo 2007-152.

The materials can be downloaded at http://www.edzollars.com/2009-01-25_TaxHome.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .

Last year when Congress added the first-time homebuyer credit found in Section 36, they included the ability for unmarried individuals who jointly acquire a residence to allocate the credit among themselves, and gave the IRS the ability to write the rules to allow this to happen.  In Notice 2009-12 the IRS has outlined those rules, and they proved to be very taxpayer friendly.

The materials for the podcast can be downloaded at http://www.edzollars.com/2009-01-20_UnmarriedCredit.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .

The new year opens up with a podcast based on a topic that was part of a panel I was a part of at the Arizona Forum for Improvement of Taxation's winter conference.  I spoke with attorney Tracy Essig of Phoenix regarding these matters. 

The materials can be downloaded at http://www.edzollars.com/ForeclosureDebtandTaxes.pdf .

The podcast is sponsored by Leimberg Information Service, found on the web at http://www.leimbergservices.com .