The greyhound breeding business of a retired Internal Revenue Service auditor
does not qualify for business deductions, according to a US tax court.
Ralph Whitecavage, an IRS auditor in Arizona for 21 years, was told by judge
Michael Thornton that he was liable for thousands in dollars of understated tax.
‘Any such defense appears especially problematic in the light of petitioner’s
employment as an IRS auditor,’ judge Thornton said, reported
The judge also criticised Whitecavage’s treatment of the dogs, of whom he
‘lost’ 20 greyhounds because of bad training methods by the trainers in the
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals