Taxable Income

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Meal Expense – Navigating Between Internal Revenue Code Sections 162, 274, 132; IRS Technical Advice Memorandum 200030001; and, Churchill Downs v. Commissioner

05/05/2015
As per usual I'm swimming in areas where the tax code is seemingly at odds....
Business Expense / Deductible Expense / Disallowed Expenses / Employee Business Expense / Meal Expense / Tax Court / Tax Deductible Expenses / Taxable Income / Uncertain Tax Position
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Business Taxes Due Next Week – AVOID PENALIZATION – File An Automatic Extension Request TODAY – IRS Form 7004

03/11/2015
The Business and Partnership Tax deadline is coming up fast! Don't sweat it! File IRS...
Basis / Business Expense / Business Income / Colorado Department of Revenue / Corporation / Cost Basis / Extension / Partnership / Penalty / Sub-chapter S / Tax Deductible Expenses / Tax Guidance & Preparation / Taxable Income
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LLC Income is INDEED Subject to Self Employment Tax: IRS Chief Counsel Advice 201436049

02/06/2015
In 1997, the IRS issued proposed regulations governing when the distributive share of partnership income...
Employment Tax / Entity Classification / Limited Partnership / LLC / Material Participation / Passive Activity / Payroll Tax Problems / Small Business / / Taxable Income / Uncategorized

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