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.