Once again, the CCA did not offer a definitive answer as to whether the taxpayer's contributions to organizations that conduct lobbying were deductible business expenses
because the nature and extent of these organizations' lobbying activities were not clear.
Under the safe harbor, local lodging expenses will be treated as an ordinary and necessary business expense
Generally, wage recharacterization is present when the employer structures compensation so that the employee receives the same or a substantially similar amount whether or not the employee incurs deductible business expenses
related to the employer's business.
So how to explain this apparent inconsistency of tax treatments of deductions of business expenses
settled by barter?
Speltz deducted the reimbursements on her schedule C as a business expense
and the couple excluded the payments on their joint tax returns.
One measure of their commonness," TEI said, "is their longstanding treatment as an ordinary and necessary business expense
deduction under section 162.
By contrast, consider accountants who do business through a corporation or LLC; have a city business license; lease space from an accounting firm; receive some work from the firm, but do work for, and are paid by, multiple clients generated independently of the firm; invoice the firm for the work done for the firm's clients; employ a staff; dictate the manner and means of the work; and pay their own business expenses
An obvious benefit comes at tax time: Instead of depreciation or Alternative Minimum Tax (AMT), you may be able to deduct lease payments as business expenses
This title is designed for those who must keep a diary on business use of automobile and other business expenses
For example, accountable expense plans were developed to permit employees to be reimbursed by their employers for their business expenses
without having to include the reimbursements in income.
Second, as employees, most clerics can be reimbursed by their organization for business expenses
without any income tax consequences as long as the reimbursement is through an "accountable plan.