Expenses & Deductions

Tax pitfalls of owning a marijuana business

Essentially, for federal tax purposes, marijuana businesses pay income taxes on their gross profit instead of their net income because below-the- line deductions are not allowed.

Application of Sec. 199A deduction to health care

While businesses involving the performance of services in the health care field were generally understood as not qualifying for the Sec. 199A deduction, further analysis could provide a favorable result.

Deducting deferred bonuses

Numerous rules and restrictions govern the timing of deductibility of bonuses accrued in one year and paid in another.

Newsletter Articles

50th ANNIVERSARY

50 years of The Tax Adviser

The January 2020 issue marks the 50th anniversary of The Tax Adviser, which was first published in January 1970. Over the coming year, we will be looking back at early issues of the magazine, highlighting interesting tidbits.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.