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Kurt established in March 1994. This return (signed by Mr. Myers
as vice president of Myers Foundations) reflects that Mr. Myers
that year was paid $155,200 in compensation. The return further
specifically states that Mr. Myers devoted 50 percent of his time
to the business of Myers Foundations.14 Although that return
statement by Mr. Myers supports respondent’s contention, we are
satisfied that petitioner has adequately explained and disproved
that statement.
Mr. Myers and Kurt testified that Kurt had previously worked
for petitioner and the B & D partnership, and had already been
trained by Mr. Myers during his prior employment with petitioner
and the partnership. Mr. Myers testified that he did not
actually devote more than about 1 percent of his overall time to
Myers Foundations during its and petitioner’s respective 1996
fiscal years. Similarly, Kurt testified that his father’s work
for Myers Foundations consisted of his consulting with Kurt over
the telephone.
14The record further reflects that Mr. Myers received
$324,000 of reported compensation from Collins Concrete (the
other foundation and flat work construction company he owned
together with Bill Collins) during 1995.
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