expense Archives

From Schedule I to Schedule III: Tax and Estate Planning Consequences of Rescheduling State-Licensed Medical Marijuana

May 7, 2026

On April 22, 2026, Acting Attorney General Todd Blanche signed a final order (“Final Order”)[1] immediately rescheduling state-licensed medical marijuana from Schedule I to Schedule III of the Controlled Substances Act (“CSA”),[2] pursuant to President Trump’s 2025 Executive Order directing federal agencies to expedite the rescheduling of medical marijuana.[3] This change may materially affect the…
Read More

Weston v. Comm’r: A Cautionary Tale on Loss Deductions and Tax Compliance

Income Tax, Tax, Tax Controversy

Mar 4, 2025

In a recent Tax Court decision, the Court again approached the critical issues surrounding loss deductions and tax compliance.[1] This case involves Heather and Stewart Weston, a married couple from California, who claimed a $2.1 million loss deduction on their 2017 tax return tied to failed business ventures in Indiana. The Internal Revenue Service (“IRS”)…
Read More

Make A Payment

Tag: expense

From Schedule I to Schedule III: Tax and Estate Planning Consequences of Rescheduling State-Licensed Medical Marijuana

Weston v. Comm’r: A Cautionary Tale on Loss Deductions and Tax Compliance

Directions

From Schedule I to Schedule III: Tax and Estate Planning Consequences of Rescheduling State-Licensed Medical Marijuana

Amplatz – The Toothless Section 7517 Without Remedy

Lapsed Life Insurance Policy Generated Taxable Income and Limited Interest Deductions