Corporations - Deductions

TOPICS / CORPORATIONS

August 2, 2018

Foreign-derived intangible income deduction: Tax reform’s overlooked new benefit for U.S. corporate exporters

One new opportunity created by the TCJA is the foreign-derived intangible income deduction in Sec. 250(a).

June 1, 2018

How the 2017 tax overhaul changed Sec. 162(m)

This article discusses how the TCJA altered corporations’ responsibilities and the potential compensation implications.

June 1, 2018

IRS issues first guidance on new business interest limitation

The IRS issues guidance on business interest limitation under the new tax act.

May 1, 2018

Deducting deferred bonuses

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

May 1, 2018

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.

May 1, 2018

Casualty losses and expenditures under Sec. 162 or 165

Two Code provisions, Sec. 162 and Sec. 165, offer a potential deduction for a taxpayer who has property that has been damaged by a casualty.

April 1, 2018

Sec. 199 deduction for qualified film and the IRS compliance campaign approach

The IRS has created an LB&I compliance campaign that affects multichannel video programming distributors and television broadcasters.

February 1, 2018

IRS memorandum provides clarity on treatment of debt-issuance costs

The IRS concluded that a taxpayer could deduct the unamortized debt-issuance costs related to its existing debt upon its exchange for new debt.

January 1, 2018

Items and factors to consider in setting reasonable compensation

All companies should maintain supporting documentation for payments.

December 20, 2017

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.

November 6, 2017

House bill features many business tax changes

The House tax reform bill contains a large number of proposed changes that would affect businesses.

October 1, 2017

Recommendations for charitable contributions made by businesses

This column discusses the treatment and classification of contributions made by businesses.

October 1, 2017

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.

October 1, 2017

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.

October 1, 2017

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.

September 1, 2017

Deducting startup and expansion costs

Certain business expenses incurred to start or expand a business can be currently deducted.

September 1, 2017

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.

June 27, 2017

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.

June 1, 2017

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.”

February 1, 2017