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(1) Philip Glickman (Mr. Glickman), (2) Richard Zeeman (Mr.
Zeeman), and (3) Ricky Solomon (Mr. Solomon). In the next lower
level of petitioner’s senior employees were Jay Mittentag (Mr.
Mittentag) and Evan Lobel (Mr. Lobel).
In addition, petitioner paid Gilbert (Mr. Wechsler’s
brother) $80,359 and $108,097 during its 1992 and 1993 fiscal
years, respectively. Petitioner deducted those payments on its
1992 and 1993 Federal income tax returns as compensation paid for
services. Those deductions are at issue.
Mrs. Wechsler began working for petitioner during its 1999
fiscal year. A portion of the $486,154 that petitioner paid to
her and deducted as compensation paid for her services during
that year is at issue.
Mr. Glickman
Mr. Glickman started working for the partnership
(petitioner’s predecessor) in 1959 as a clerk/trainee, primarily
assisting Mr. Wechsler’s father. Mr. Glickman later worked as a
senior trader for petitioner, until the mid-1980s, when he became
an institutional salesman for convertible bonds. He served as
petitioner’s vice president from 1967 until June 2, 1988, when he
was appointed its executive vice president. He served on
petitioner’s board from 1986 until his retirement from petitioner
on May 31, 1997.
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Last modified: May 25, 2011