Bryan Camp has published an article on the TaxProf Blog, titled Lesson From The Tax Court: Why Vacation Home Losses Are Difficult To Deduct. The article begins as follows:
Tax shelters come in many forms. Some shelters are activities that have no genuine economic purpose; they exist simply to generate tax benefits. Some micro-captive insurance arrangements are a great example, as you can learn from this wonderful brief by former tax officials filed recently in a Supreme Court case. Other shelters are activities that allow taxpayers to deduct otherwise non-deductible personal expenses.
Click here to see full article: Lesson From The Tax Court: Why Vacation Home Losses Are Difficult To Deduct.
Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.
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