News & Articles

Tax Law Ends Alimony Deductions after 2018

Posted on Thu, Feb 08, 2018

In divorce situations, an ex-spouse may be legally obligated to make payments to the other party. Since payments are often substantial, locking in tax deductions for the payer has often been important and involved a substantial amount of money.

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Tags: Alimony, Deductible Costs, Tax Cuts and Jobs Act (TCJA)

Hockey Team's Meals at Away Games Were a De Minimis Fringe Benefit

Posted on Fri, Jul 14, 2017

The U.S. Tax Court recently ruled that the Boston Bruins hockey team's pregame meals to players and personnel at out-of-town hotels qualified as a de minimis fringe benefit under the Internal Revenue Code. Therefore, 100% of the cost of those meals could be deducted — it wasn't subject to the 50% tax code limitation.

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Tags: Benefits, Deductions, IRS, Employee Compensation, Deductible Costs

Sharing Tax Issues in the Sharing Economy

Posted on Mon, Jun 05, 2017

Do you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand? If so, you may be considered part of the "sharing economy" (also known as the Gig or on-demand economy).

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Tags: IRS, Independent Contractor, Deductible Costs

IRS Mileage Rates for 2015 Announced

Posted on Mon, Dec 15, 2014

The IRS has issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

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Tags: EHTC Article, IRS, Newsletter, Articles, Mileage Rate, Deductible Costs