Travel and Transportation Expenses — Deduction and
Bloomberg Tax Portfolio, Travel and Transportation Expenses – Deductions and Recordkeeping Requirements, explains the substantive and procedural rules for deducting travel, transportation and commuting expenses. It analyzes the problems which arise in determining the deductibility of travel expenses incurred in an employment or self
Actived: 9 days ago
Payroll Accounting Tool Payroll Administration & …
(7 days ago) Travel-Industry Restaurant Workers Secure $275,000 Wage Deal. By Kathleen Dailey. October 19, 2021 1:52 PM. Jobless Aid Cutoff Lawsuits Go On After Federal Programs’ End. By Chris Marr. October 18, 2021 5:15 AM. Manchin Raises Concerns Over Biden Pick for …
Federal Tax Resource Tax Return Forms, Guides, Rates & …
(1 days ago) Whether you’re looking for tax bracket data, the latest federal tax developments, or expert analysis on federal tax legal and regulatory impacts, you’ll find everything you need in one place for seamless U.S. federal income tax rate research. Best of all, our federal tax rate resources and intelligence link to the rest of the news, analysis
Tax & Accounting Advisory Boards Bloomberg Tax
(9 days ago) Tom’s experience encompasses employee benefits and information reporting, in particular, dealing with the income and employment tax treatment of settlement payments, use of corporate aircraft, statutory fringe benefits, nonqualified deferred compensation, travel benefits, wellness programs and employer obligations under the Affordable Care Act.
Tax & Accounting Resource Tool Solutions Bloomberg Tax
(8 days ago) Bloomberg Tax is a comprehensive tax research and planning solution designed by tax practitioners for tax practitioners. Covering U.S. federal, state, and international tax, our fully integrated platform covers topics such as corporate tax compliance, international tax compliance, year-end tax planning, and foreign tax credit regulations such
Business Entertainment Expenses Bloomberg Tax & …
(7 days ago) Business entertainment expenses were an underlying casualty of the 2017 Tax Cuts and Jobs Act. The TCJA sharply limited the deduction for business entertainment expenses, except for certain employee events, like office parties, and for recreational, social, or similar activities. Rules Exceptions Changes “Ordinary and Necessary” Resources.
Deductibility of Legal and Other Professional Fees
(4 days ago) Description. Bloomberg Tax Portfolio, No. 523, Deductibility of Legal and Other Professional Fees, provides a detailed discussion of the circumstances under which a taxpayer may deduct legal and other professional fees.. Legal and other professional fees are not specifically mentioned in the Code as deductible items. Therefore, a taxpayer is able to deduct these types of fees only if they
Cost Accounting Principles for Federal Contracts
(9 days ago) In addition to the general cost principles in the FAR, 47 specific cost principles apply to “selected costs.” The selected costs include such items as compensation for personal services, the cost of money, depreciation, idle facilities, independent research and development, material costs, selling costs, and travel.
Estate Tax Deductions— Sections 2053, 2054 and 2058
(3 days ago) Description. Bloomberg Tax Portfolio, Estate Tax Deductions — Sections 2053, 2054 and 2058, No. 840, discusses three of the five categories of deductions permitted from a decedent’s gross estate in arriving at his or her taxable estate.
Educational Expenses and Credits (Portfolio 517
(6 days ago) The deduction of travel expenses for education is prohibited or limited. The deduction of educational expenses as business expenses is discussed in Part II. Educational expenses that do not meet the requirements for deduction as business expenses are considered nondeductible personal expenses, unless they qualify for a limited deduction for
Entertainment, Meals, Gifts and Lodging — Deduction and
(2 days ago) (2) Meals in Travel Status (3) Exceptions to Cutback Percentage (4) Reimbursement and Per Diem Arrangements (5) Interplay with Other Limitations (6) Effective Dates. b. Cost of Skyboxes. c. Limitation of Deduction of Cost of Tickets to Face Value. d. Requirement of Taxpayer’s Presence at Entertainment and Meals (1) Meals (2) Entertainment
2020 Outlook on Tax Bloomberg Tax & Accounting
(9 days ago) Previously, Fitzpatrick founded and launched German Life magazine, a special interest magazine featuring German culture, history, travel, and German influences in North America. She began her career in circulation and advertising sales roles for special interest magazines.
Depreciation Recapture — Sections 1245 and 1250 (Portfolio
(9 days ago) Sections 1245 and 1250 generally apply to any transfer of depreciable property (including certain property that is expensed under rules similar to depreciation rules, such as rapid amortization property and property that has been expensed under §179).Certain transfers of depreciable property, however, are excepted from depreciation recapture. The gain treated as ordinary income by §1245 is
Common IRS Audit Triggers Bloomberg Tax & Accounting
(1 days ago) [See 519 TM, Travel and Transportation Expenses — Deduction and Recordkeeping Requirements, IV.; TPS ¶2310.05.] 8. Claiming a Hobby as a Business. While expenses relating to the production of income or to investment activities are generally deductible, the hobby loss rules limit the deductions for activities not engaged in for profit.
Asset Impairment Could Be Next Domino to Fall From
(5 days ago) The spread of the novel coronavirus (Covid-19) around the globe has had grave economic and human costs, including record-breaking drops in equity markets, spikes in unemployment claims, significant reductions in international and domestic travel, nationwide shelter-in-place orders, and nearly unprecedented short-term uncertainty.
Covid-19 Impact on (the Other) TP Bloomberg Tax & Accounting
(9 days ago) Baker McKenzie and Bloomberg Tax & Accounting. The impact of Covid-19 has been profound. The spread of the virus has strained local medical infrastructures, introduced travel restrictions, limited social contacts, and created unprecedented disruptions to the global economy. A wide variety of industries are seeing disrupted supply chains
Private Foundations — Taxable Expenditures (Sec. 4945
(3 days ago) Taxable expenditures are amounts paid: (1) to attempt to influence legislation; (2) to influence the outcome of a public election or to carry on most voter registration drives; (3) as a grant, with exceptions, to an individual for travel or study; (4) as a grant to certain …