The "norm of capitalization": an unwarranted presumption

Article Abstract:

The US Supreme Court 's holding in INDOPCO, Inc. that deductions should be exceptions to the rule of capitalization for business expenses cannot find support in the Tax Code, legislative history, or judicial precedent. The presumption of capitalization is incorrect in light of the congressional intent to tax net income. The Court in Landgraf v. USI Film Products provides preferable guidance, including indicating the value of applying facts to IRC sections 162(a) and 263(a) only when necessary.

Analysis, Presumptions (Law), Amortization

---

Employee cafeterias: recent events impact employers and employees

Article Abstract:

Employers supplying meals to employees in employee cafeterias should reassess related tax accounting methods after reviewing Tax Court decisions and favorable changes made to the law by the IRS Restructuring and Reform Act of 1998. IRC sections 119, 132, and 274, regulatory, and case law should be referenced to resolve issues of inclusion in employee compensatory income and deductibility.

Tax Law, Employee Benefits & Services, Usage, Human resource management, Restaurants

---

Gaming industry victorious on employee meals issue

Article Abstract:

The tax issues surrounding the treatment of the value of meals provided to employees by employers in the gaming industry is the focus of this article. The U.S. 9th Circuit Court of Appeals in Boyd Gaming allowed the tax deduction to the employer and exclusion from the employees' income.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Compensation and benefits, Gambling industry, Industrial feeding, Employee food services

Similar abstracts:

• Abstracts: The occurrence of musculoskeletal alterations in worker populations not exposed to repetitive tasks of the upper limbs
• Abstracts: Standard-setting's future direction is unclear. The reality of realisation: Refining the realisation concept will solve derivative and hedge accounting problems
• Abstracts: The usefulness of the value added statement in South Africa. Usefulness of value added reporting: a review and synthesis of the literature
• Abstracts: The economics of prepaying wealth transfer tax. The value of key-person life insurance for estate tax planning
• Abstracts: Interday variations in volume, variance and participation of large speculators. An examination of herd behavior in equity markets: An international perspective

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.