Business expense deductions are among the IRS' Top 10 most litigated issues.
and necessary'
business expense deductions are allowable" when
Xilinx's
business expense deductions for tax years 1997 through 1999 included a total of $177 million in costs of employee exercises of options.
Luckily for Cohan, his case predated those rules, and the Second Circuit held that he should be permitted to use estimates to establish his entitlement to
business expense deductions.
In other words, the most advantageous company car plan will be one which minimizes or eliminates the need for the employee to claim any
business expense deductions.
Entertainment Facilities--Internal Revenue Code denies trade or
business expense deductions for items or facilities used in connection with entertainment--except for firms in the business of entertainment.
7) Tax Administration: Recurring Issues in Tax Disputes Over
Business Expense Deductions, United States General Accounting Office (GAO/GGD-95-232, Sept.
When the case was first considered by the Tax Court, the court held that M&H was not entitled to
business expense deductions for those portions of premium paid to Northwestern and then ceded to Eastland.
274 was enacted to curb abuses of
business expense deductions for travel, entertainment and gifts.
On her tax return, the taxpayer claimed a home office deduction for the room in her home and
business expense deductions for a computer and printer she used at home for work.
