The IRS issued guidance outlining how to determine the amount of parking expense that is nondeductible under Sec. 274(a)(4) when employers provide parking for their employees.
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TOPICS
Individuals
Initial guidance issued on Sec. 83(i) deferral election for private company equity grants
The IRS issued initial guidance on the application of Sec. 83(i), which allows certain employees to defer recognition of income attributable to the receipt or vesting of qualified stock.
Service businesses that qualify for the 20% QBI deduction
This article discusses the limitations that apply to
specified service trades or businesses.
Using R&D credits to reduce payroll taxes: An overlooked opportunity for startups
This article discusses who qualifies to take the credit, how to make the election, the calculation and allocation of the credit, and how to report it.
IRS clarifies deductibility of business meals
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
Social Security wage base set for 2019
The Social Security Administration said that the amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax for 2019 will be $132,900, increased from 2018’s maximum of $128,400.
Avoiding the hobby loss trap after the TCJA
The suspension of the deduction for expenses from hobby activities in the years 2018 through 2025 makes it all the more important for taxpayers to be
able to establish a profit motive for their activities.
IRS issues guidance on deemed personal exemption amount
The IRS issued guidance on how it intends to interpret the exemption amount in tax years 2018 through 2025 in determining who is a qualifying relative for purposes of the various Code provisions that refer to the definition of a dependent in Sec. 152.
Modeling investment tax planning with Excel
Case studies provide a template for accounting educators to develop students’ problem-solving and
decision-making skills while also enhancing their
competency in Excel.
How the suspension of personal exemptions affects health-care-related provisions
IRS guidance clarifies what it means to claim a personal exemption deduction.
Meals continue to be deductible under new IRS guidance
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
Tax reform: Individual taxpayers and the Sec. 962 election
The new “repatriation tax” under the TCJA may cause individual partners and shareholders of flowthrough entities to obtain a deferred tax rate benefit by making this election.
IRS proposes rules for Sec. 199A qualified business income deduction
The IRS issued guidance on the new Sec. 199A deduction for qualified business income in the form of proposed regulations and a separate notice on how to calculate W-2 wages for those purposes.
Filing ‘optional’ partnership return costly
Married couples in business together can elect qualified joint venture status to avoid partnership filing requirements.
Sale of improved land: Capital or ordinary gain?
In certain situations, a taxpayer may be able to
claim capital gain treatment, even if the taxpayer
subdivides the real property into lots and actively tries to sell the parcels.
Five types of interest expense, three sets of new rules
This article provides an overview of the rules that apply to each type of interest after the passage of the TCJA.
IRS issues final rules on adequate substantiation of charitable contributions
Final regulations address how taxpayers can comply with the requirements for adequate substantiation of charitable contributions of money or property.
Inflated charitable contribution deduction denied
A taxpayer could not deduct the original sales price
of clothing donated to charity when the clothing was bought at a discount.
Damages and interest from stray voltage suit are ordinary income
A jury award of tort damages plus interest was ordinary income, and the interest award was subject to self-employment tax.
Small businesses and related-party transactions
A recent Tax Court case highlights pitfalls frequently encountered by small businesses that engage in related-party transactions without appropriate planning.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
