The Boston Bruins’ Meal Expenses Set Precedent for De Minimis Fringe Benefits

The U.S. Tax Court recently held in Jacobs v. Commissioner[1] that the owners of the Boston Bruins, a National Hockey League (NHL) franchise based in Boston, could deduct the full amount of expenses spent on meals for players and all traveling staff at hotels during away games. The limitation on meal and entertainment expenses and…

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White House Proposes Massive Tax Cut Package

White House officials outlined President Donald Trump’s tax plan Wednesday, a proposal Treasury Secretary Steve Mnuchin is calling “the biggest tax cut and the largest tax reform in the history of this country.”  Mnuchin stated the goal of the plan is to create jobs and economic growth.  The dramatic overhaul of the tax code calls…

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Farm Income Taxation: Reaping What Good Lobbying Has Sown

Farms are as American as apple pie. Thus, they have become one of American politicians’ favorite businesses. Unsurprisingly, they get tax advantages unavailable to most other businesses. A well-advised farmer should be aware of these advantages, on top of their other governmental subsidies (which have some interplay with farmers’ tax rules). This article gives a…

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