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incorporated herein by this reference. Petitioner William H.
Bruecher III (Mr. Bruecher) resided in Austin, Texas, and
petitioner Bruecher Foundation Services, Inc. (Bruecher
Foundation) had its principal place of business in Texas at the
time of the filing of the respective petitions.
Mr. Bruecher started Bruecher Foundation as a sole
proprietorship in 1989 and incorporated it in approximately 1994.
Bruecher Foundation was engaged in the business of repairing
foundations of homes and “light” apartment buildings. Mr.
Bruecher is the sole shareholder of Bruecher Foundation and its
chief executive. He actively operates Bruecher Foundation.
Bruecher Foundation has a history of not paying Mr. Bruecher
a salary or a dividend. During the taxable years in issue, Mr.
Bruecher did not maintain a personal bank account. Mr. Bruecher
used Bruecher Foundation’s bank account as his own, paying both
his personal expenses and some expenses related to his Schedule C
“landscaping/foundation” business from the corporate bank
account. During those years, Mr. Bruecher maintained a business
banking account for his Schedule C business, which account was
separate from Bruecher Foundation’s corporate banking account.
Bruecher Foundation characterized the payments of Mr. Bruecher’s
personal expenses as “advances”, recording the amounts paid on
his behalf on its books under the account heading “Advance -
Bruecher, WM.”
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