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The Wealthy Accountant discusses tax and legal issues. Tax laws change frequently. Material published here should not be construed as legal or tax advice. A competent professional should be sought before taking any action.
Everything you read here is true “. . . from a certain point of view,” as Obi-wan would say. When it comes to money and taxes always verify. Tax laws and regulations change. Tax Court can clarify with an answer different than mine at a later date. As a human being I can get things wrong, too. I know! I find it hard to believe too.
And sometimes I like to have fun pulling people’s leg. Always beware the cipher.