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  • Hockey Team’s Meals at Away Games Were a De Minimis Fringe Benefit
    The U.S. Tax Court recently ruled that a professional hockey team's pregame meals to players and personnel at out-of-town hotels qualified as a "de minimis" fringe benefit. Therefore, the cost of the meals wasn't subject to the 50% limitation under the tax code. Here are the details of this case, Read More
  • Why Partnership Tax Status May Sometimes Be Unwanted
    In some cases involving activities with more than one co-owner, it may be desirable to avoid partnership status for federal income tax purposes. Fortunately, there are ways around being taxed as a partnership and there's a key Tax Court decision that you can use to determine whether your multi-owner activity Read More
  • Know the Rules for Amending a Federal Income Tax Return
    Mistakes happen. Fortunately, you can submit an amended return if you notice an error on a previously filed individual return. Claims for refunds must be filed on a timely basis. On the other hand, taxpayers who underpaid their taxes may owe interest and penalties on top of their additional tax Read More
  • Unlock the Biggest Possible Deduction for a Home Office
    Do you work from home? You might be able to claim a home office deduction if part of your home is used for business purposes. Thanks to a tax law change in 2013, there are now two methods for claiming this deduction: actual expenses vs. the simplified method. Here's how Read More
  • Can Your Research Credits Offset Your Payroll Tax Bill?
    Qualified small businesses have a new option for using their research tax credits: They can now elect to apply their credit to the Social Security tax portion of their federal payroll tax liabilities. That may come in handy for smaller start-ups with significant research expenses and little or no profits. Read More
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