The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
Expenses & Deductions
Depending on how a taxpayer’s ownership is structured, the sale of a partnership interest can have a Sec. 280G impact on partners or members that are C corporations.
The challenge taxpayers frequently face is determining the date of sale, abandonment, or worthlessness.
The IRS issued guidance regarding amended Sec. 162(m), which limits the allowable deduction for remuneration paid by any publicly held corporation to a covered employee to $1 million.
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).
This article discusses how the TCJA altered corporations’ responsibilities and the potential compensation implications.
The IRS issues guidance on business interest limitation under the new tax act.
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.
Numerous rules and restrictions govern the timing of deductibility of bonuses accrued in one year and paid in another.
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.
The IRS has created an LB&I compliance campaign that affects multichannel video programming distributors and television broadcasters.
The IRS concluded that a taxpayer could deduct the unamortized debt-issuance costs related to its existing debt upon its exchange for new debt.
All companies should maintain supporting documentation for payments.
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small.
The House tax reform bill contains a large number of proposed changes that would affect businesses.
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.
This column discusses whether fuel blending may be treated as a domestic production activity for purposes of the DPAD deduction.
The U.S. Tax Court held that pregame meals provided to players and personnel before away games qualify as a de minimis fringe benefit.
Pregame meals provided to Boston Bruins players and personnel before away games qualify as a de minimis fringe benefit.
Certain business expenses incurred to start or expand a business can be currently deducted.