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Famous Tax Quote #35 - Foresight and Planning

2010-10-31

Continuing our series on Famous Tax Quotes (quotes from court opinions with language that is colorful or that concisely states an important tax principle) today's tax quote is:

We are not so naive as to believe that tax considerations played no role in Grove's planning.  But foresight and planning do not transform a non-taxable event into one that is taxable.

Grove v. Commissioner, 490 F.2d 241 (2nd Cir. 1973).

Andrew Mitchel is an international tax attorney who advises businesses and individuals with cross-border activities.

Tags: Other - Famous Tax Quotes