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The Business Purpose, Step-Transaction, and Substance-Over-Form Doctrines May Limit the Income-Shifting

question 129

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The business purpose, step-transaction, and substance-over-form doctrines may limit the income-shifting strategy.


Definitions:

Tractor

A heavy-duty highway truck designed for towing trailers. Also any of a number of different types of farm and heavy equipment utility vehicles.

Tandem Axle

A pair of axles situated close together in a vehicle to support more weight than a single axle and improve stability.

Wheel Base

The distance between the centers of the front and rear wheels of a vehicle, influencing stability, handling, and ride comfort.

Linehaul

Truck transports that operate terminal to terminal. Refers to a truck that operates mainly on major highways.

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