How tax overhaul would change business taxes
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small.
Expenses & Deductions
House bill features many business tax changes
The House tax reform bill contains a large number of proposed changes that would affect businesses.
Fuel blending and the Sec. 199 deduction
This column discusses whether fuel blending may be treated as a domestic production activity for purposes of the DPAD deduction.
Boston Bruins can deduct 100% of cost of certain pregame meals
The U.S. Tax Court held that pregame meals provided to players and personnel before away games qualify as a de minimis fringe benefit.
Tax Court: Sports team allowed 100% meal deduction when traveling for road games
The U.S. Tax Court held that a professional hockey team could deduct the cost of meals provided to players and other employees at the team’s hotel while traveling for games.
Tax Court allows full meal deduction for NHL team’s away games
Pregame meals provided to Boston Bruins players and personnel before away games qualify as a de minimis fringe benefit.
Deducting startup and expansion costs
Certain business expenses incurred to start or expand a business can be currently deducted.
Boston Bruins can deduct full cost of meals for team’s away games
The Tax Court held that the owners of the Boston Bruins could deduct the full cost of their team’s pregame meals for away games as a de minimis fringe benefit.
IRS focuses on Sec. 199 for cable, satellite, and broadcast TV
Among the first wave of examination “campaigns” announced by the IRS’s LB&I is the application of the Sec. 199 domestic production activities deduction to “multi-channel video programming distributors.”
IRS Does Not Acquiesce to Treatment of Discounts in Giant Eagle
Taxpayers should expect to see continued controversy regarding when a liability is fixed for customer discounts.
IRS Clarifies Definition of “Construction of Real Property” for Purposes of Sec. 199
The IRS determined a taxpayer’s substantial renovation, construction, and erection of certain property qualified as the construction of real property under Sec. 199.
Tax Court Finds Compensation Reasonable, Rejects IRS Attempt to Modify Independent-Investor Test
In this case, compensation paid by a closely held corporation was reasonable and therefore deductible.
Dental Practice’s Management Fees Were Not Ordinary and Necessary Business Expenses
The fees were unnecessary because the taxpayer did not provide proof to show that any services were actually performed in exchange for the fees.
Documenting Deductible Transaction Costs for Acquisitive Transactions
This item discusses the ability of a target in a Sec. 338(h)(10) transaction to use the safe-harbor election provided by Rev. Proc. 2011-29.
Tax Planning Businesses Can Do Before Year End
Here are some suggestions to help business clients reduce 2015 taxes by accelerating deductions into this year and delaying income until next year.
Capitalization Not Required for Payment to Terminate Management Agreement Prior to IPO
In a Letter Ruling, the IRS concluded that a payment made to terminate a management services agreement did not create an intangible asset or facilitate a transaction.
Deducting Expenses for Sporting Events Under an Accountable Plan
There are some unique rules for sporting and other live entertainment events under accountable plans.
Benefits and Burdens Would No Longer Determine Sec. 199 Deduction
The IRS has proposed removing the benefits-and-burdens-of-ownership rule for determining which party to a contract manufacturing agreement should get the Sec. 199 domestic production activities deduction.
Benefits and Burdens Would No Longer Determine Sec. 199 Deduction
The IRS has proposed removing the benefits-and-burdens-of-ownership rule for determining which party to a contract manufacturing agreement should get the Sec. 199 domestic production activities deduction.
Regulations Determine Allocation of Wages for Domestic Production Activities Deduction
The new rules govern the Sec. 199 deduction when two taxpayers employ the same employees.
