Tax Planning, Business Expenses

High Time for Cannabis Businesses to Start Tax Planning

Fox Rothschild LLP on 6/6/2024

Cannabis businesses should prepare now for certain tax benefits since the Drug Enforcement Administration’s (DEA) recent recommendation to reschedule cannabis from a Schedule I controlled substance to a Schedule III...more

Gregory v. Commissioner : A lesson in application of the ‘hobby loss’ rules

McAfee & Taft on 7/19/2023

Many of you are familiar with what are commonly referred to as the “hobby loss” rules. Section 183 of the Internal Revenue Code limits a taxpayer’s ability to deduct expenses associated with activities “not engaged in for...more

Tax Planning for Business Owners Who Shortchange Themselves

Rivkin Radler LLP on 6/6/2023

Something’s Wrong- Of late, a not insignificant number of the business owners with whom I’ve been working have raised some concern over whether they are financially prepared for the next stage of their lives. ...more

Tax Court in Brief | Butterfield v. Comm’r | Travel Reimbursements and Itemized Deductions

Freeman Law on 9/27/2022

Tax Litigation: The Week of August 29th, 2022, through September 2nd, 2022 Sparta Pink Property, LLC v. Comm’r, T.C. Memo. 2022-88 | August 29, 2022 | Lauber, J. | Dkt. No. 12114-20 Pressman v. Comm’r, T.C. Summ. Op. 2022-15...more

Tax Court in Brief | Luna v. Comm’r | Disallowance of Itemized Business Deductions and Lack of Substantiation

Freeman Law on 9/26/2022

Tax Litigation: The Week of August 29th, 2022, through September 2nd, 2022 Sparta Pink Property, LLC v. Comm’r, T.C. Memo. 2022-88 | August 29, 2022 | Lauber, J. | Dkt. No. 12114-20 Pressman v. Comm’r, T.C. Summ. Op. 2022-15...more

Tax Tips for New York Cannabis Businesses

Bond Schoeneck & King PLLC on 9/7/2022

Businesses looking to enter New York’s recreational cannabis industry should be pleased to know recent changes to state tax laws are slowly making the venture more financially feasible. Ever since New York passed the...more

Tax Court in Brief | Eze v. Commissioner | Schedules C and C2 Business Expense Deductions of a Sole Proprietorship

Freeman Law on 8/10/2022

Tax Litigation: The Week of August 1st, 2022, through August 5th, 2022 Whistleblower 769-16W v. Comm’r, 159 T.C. No. 2 | August 4, 2022 | Toro, J. | Dkt. No. 769-16W ...more

Tax Court in Brief | Kinney v. Commissioner | Schedule C Deductions Legal Fees, Insurance, Car and Travel Expenses

Freeman Law on 8/3/2022

Tax Litigation: The Week of July 25th, 2022, through July 29th, 2022 Elstein v. Comm’r, T.C. Summary Opinion 2022-14 | July 18, 2022 | Panuthos, J. | Dkt. No. 18272-17S Hall v Commissioner, T.C. Memo. 2022-82 | July 28, 2022...more

Tax Court in Brief | Gonzalez v. Commissioner | Proving Up Business Expenses

Freeman Law on 7/29/2022

Tax Court in Brief | Wolpert v. Commissioner | Schedule C Itemized Business Expense Deductions and Substantiation

Freeman Law on 7/18/2022

Tax Litigation: The Week of July 4th, 2022, through July 8th, 2022 Barrington v. Commissioner, T.C. Memo. 2022-68 | July 6, 2022 | Buch, J.| Dkt. No. 1781-14 Couturier v. Commissioner, No. 19714-16, T.C. Memo 2022-69 | July...more

Tax Court in Brief | Ziroli v. Commissioner | Is a Disgorgement Payment a Deductible Business Expense under Section 162?

Freeman Law on 7/15/2022

Tax Litigation: The Week of July 11th, 2022, through July 15th, 2022 Estate of DeMuth, v. Comm’r, T.C. Memo. 2022-72 | July 12, 2022 | Jones, J. | Dkt. No. 18724-19 Whistleblower 972-17W v. Comm’r, 159 T.C. No. 1 | July 13,...more

Tax Court in Brief | Romana v. Commissioner | Miscellaneous Itemized Business Expenses and Accuracy-Related Penalty

Freeman Law on 6/23/2022

Tax Court in Brief | Spencer v. Commissioner | Itemized Business Deductions and Substantiation Requirements

Freeman Law on 6/22/2022

Tax Litigation: The Week of June 6th, 2022, through June 10th, 2022 Pocock v. Commissioner, T.C. Memo. 2022-55 | June 6, 2022 | Vasquez, J.| Dkt. No. 12558-17 Consolidated with Dkt. No. 23569-17L Musselwhite v. Commissioner,...more

Tax Court in Brief | Genecure, LLC v. Commissioner | Capital Expenses, QTDP Recapture Tax, Fraud-Related Penalty Requirements

Freeman Law on 6/8/2022

Tax Court in Brief | Harrison v. Commissioner | Itemized Deductions, Charitable Contributions, Passive Income

Freeman Law on 5/31/2022

Tax Court in Brief | Valentine v. Commissioner | Taxability of Military Pension and Disability Payments and Business Expense...

Freeman Law on 5/6/2022

Tax Litigation: The Week of April 25th, 2022, through April 29th, 2022 Valentine v. Comm’r, TC Memo. 2022-42| April 28, 2022 | Gustafson, J. | Dkt. No. 6724-19...more

Tax Court in Brief | Scholtz v. Commissioner | Itemized Deductions, Charitable Contributions and Unreimbursed Employee Expenses

Freeman Law on 4/14/2022

Tax Planning › Business Expenses

High Time for Cannabis Businesses to Start Tax Planning

Gregory v. Commissioner : A lesson in application of the ‘hobby loss’ rules

Tax Planning for Business Owners Who Shortchange Themselves

Tax Court in Brief | Butterfield v. Comm’r | Travel Reimbursements and Itemized Deductions

Tax Court in Brief | Luna v. Comm’r | Disallowance of Itemized Business Deductions and Lack of Substantiation

Tax Tips for New York Cannabis Businesses

Tax Court in Brief | Eze v. Commissioner | Schedules C and C2 Business Expense Deductions of a Sole Proprietorship

Tax Court in Brief | Kinney v. Commissioner | Schedule C Deductions Legal Fees, Insurance, Car and Travel Expenses

Tax Court in Brief | Gonzalez v. Commissioner | Proving Up Business Expenses

Tax Court in Brief | Wolpert v. Commissioner | Schedule C Itemized Business Expense Deductions and Substantiation

Tax Court in Brief | Ziroli v. Commissioner | Is a Disgorgement Payment a Deductible Business Expense under Section 162?

Tax Court in Brief | Romana v. Commissioner | Miscellaneous Itemized Business Expenses and Accuracy-Related Penalty

Tax Court in Brief | Spencer v. Commissioner | Itemized Business Deductions and Substantiation Requirements

Tax Court in Brief | Genecure, LLC v. Commissioner | Capital Expenses, QTDP Recapture Tax, Fraud-Related Penalty Requirements

Tax Court in Brief | Harrison v. Commissioner | Itemized Deductions, Charitable Contributions, Passive Income

Tax Court in Brief | Valentine v. Commissioner | Taxability of Military Pension and Disability Payments and Business Expense...

Tax Court in Brief | Scholtz v. Commissioner | Itemized Deductions, Charitable Contributions and Unreimbursed Employee Expenses

Tax Court in Brief | Salter v. Commissioner | Substitute for Return and Itemized Deductions

Tax Court in Brief | Walters v. Comm’r | Deductibility of “For Profit” Business Expenses

Tax Court in Brief | Rau v. Comm’r | Business Expense and Non-cash Charitable Contribution Deductions

Tax Court in Brief | Hacker v. Com’r | Constructive Dividends, Unexplained Deposits, and Corporate Spending

Tax Court in Brief | Sherwin Community Painters Inc. v. Comm’r | Business Expenses and Constructive Dividends

Tax Court in Brief – Harwood v. Commissioner

The Tax Court in Brief - August 2021 #3

Thinking About ‘Avoiding’ NY Tax Increases? Then Think About The False Claims Act

Tax Planning › Business Expenses

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