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Art Is Like Any Other Business: Value Must Include Owner’s Reasonable Salary

In valuing inventory original artwork, must divorce court assign reasonable salary to spouse-owner?

In re Marriage of Haefele

In valuing inventory original artwork, must divorce court assign reasonable salary to spouse-owner?

9th Circuit Affirms Tax Court Reasonable Compensation Ruling

This decision affirms the Tax Court case abstracted in the December 1998 BVU, p. 5.

LabelGraphics, Inc. v. Commissioner (II)

At issue is the determination of reasonable employee compensation for deduction as an ordinary and necessary business expense.

George G. Rodrique, Jr., et al. v. Veronica Hidalgo Rodrique

The U.S. Court of Appeals for the Fifth Circuit concluded that the Louisiana community law regarding property distribution was not inopposite with the rights held by an artist under the Federal Copyright Act. It determined that the artist held exclusive ...

Copyrighted Intellectual Property Is Subject to Louisiana Community Property Law

The U.S. Court of Appeals for the Fifth Circuit concluded that the Louisiana community law regarding property distribution was not inopposite with the rights held by an artist under the Federal Copyright Act. It determined that the artist held exclusive ...

Court Enumerates Five-Factor Reasonable Compensation Test; Experts Offer Little Evidence; Testimony Accorded Little Weight

The main issue at hand in this case is the amount that Labelgraphics is entitled to deduct under Section 162 as reasonable compensation to its president, Lon Martin.

Labelgraphics, Inc. v. Commissioner (I)

The main issue in this case is the amount that Labelgraphics is entitled to deduct under Section 162 as reasonable compensation to its president.

Alpha Medical, Inc. (Alpha Medical I) v. CIR

The Tax Court considered whether a CEO's compensation was reasonable and thus deductible to the company under IRC Sec. 162. The Tax Court applied a multi-factor test which considered the executive's qualifications, the executive's past compensation, the ...

Executive’s Compensation Found Unreasonable

The Tax Court considered whether a CEO's compensation was reasonable and thus deductible to the company under IRC Sec. 162.

Muller v. Muller

One issue in this case was the valuation of a small business using an IRS ruling with some court created variations.

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