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Lesson From The Tax Court: Yachts Are Pigs (TaxProf Blog) - Most folks buy yachts for personal reasons, generally for some combination of pleasure or status. Few souls say âhey, I think Iâll sink a boatload of money into a single yacht so I can make a bigger boatload of money leasing it out!â Sure, there are lots of companies that offer boat owners so-called âbusinessâ opportunities. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Virtual Currency not FBAR Reportable (at Least for Now) (The Tax Advisor) - Virtual currencies have several simultaneous properties that make them challenging for practitioners and regulatory bodies to classify. Sometimes cryptocurrency is an alternative medium of exchange, Quiz: How Well Do You Know the Risk Assessment Standard? (JofA) - a recent survey of peer reviewers found that more than half of 400 audits they reviewed were nonconforming because the auditors had not complied with the risk assessment standard. How well do you know the basics of risk assessment in auditing? Take this quiz to find out. 5 Phones with the Best Battery Life (CNet) - We round up the phones with the longest battery life. Did yours make the list? These Cities Have the Worst 4th of July Traffic (CNBC) - AAA expects 41.4 million people to be on the roads over the holiday. Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Banff and Lake Louise   |