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the United States Federal District Court Eastern District of
California. As a result of this conviction, the State Bar placed
Kaufman on “interim” suspension from August 15 to November 15,
1995, while it conducted its own investigation. Thereafter, the
State Bar determined that Kaufman’s criminal conviction warranted
an 18-month suspension, which was stayed, and placed him on
probation for 18 months, including 90 days’ actual suspension
from August 15 through November 15, 1995 (hereinafter sometimes
referred to as Kaufman’s suspension).
Petitioner
Kaufman formed petitioner in 1987. During 1995, petitioner
was engaged in the business of leasing real estate and equipment,
and leased office space and equipment to Jack H. Kaufman, APC.
Petitioner filed Forms 1120, U.S. Corporation Income Tax
Returns, for tax years 1991, 1992, 1993, 1994, and 1995.
Petitioner’s return for tax year 1995 was received by
respondent on December 2, 1996. On the return, petitioner
claimed a deduction for a loss of $196,923 for “Abandonment of
Equipment”.
Jack H. Kaufman, APC
Jack H. Kaufman, APC was owned and operated by Kaufman at
the beginning of 1995. On August 14, 1995, Kaufman sold all of
the shares in Jack H. Kaufman, APC to attorney Susan G. Carter
(Carter). On and after August 14, 1995, the firm’s name remained
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