Federal income tax consequences of spousal & dependent travel expenses
Article Abstract:
Revisions in spousal business travel rules in 1993 disallowed business expense deductions for expenses incurred by a spouse or dependent joining an employee on a business trip except when the companion is also an employee and is there for a bona fide business purpose. The employer may claim a compensation deduction for the expense, but it will then trigger employment taxes and be taxable to the employee. Deduction and exclusion are generally unavailable for spousal travel on company-owned aircraft unless at least 50% of the seating capacity is filled with employees on business.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1996
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Tax consequences of domestic partner participation in group health plans
Article Abstract:
The IRS has ruled in PLR 9603011 that group health coverage for domestic partners of employees will only be excluded from income taxation and withholding if the partner is a dependent or spouse under state law. Since no state allows same-sex marriage, the ruling effectively requires the employee to recognize income to the extent that such benefits are provided by the employer. Generally, employer contributions to health care plans are excluded from income taxation.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1996
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IRS explains tax consequences of charitable contributions of NQSOs
Article Abstract:
The IRS issued three private letter rulings which discussed aspects of nonqualified stock option contributions to IRC section 170(c) charitable organizations. The IRS referred to IRC section 83 and its regulations to determine that its rules regarding non-arm's length property dispositions applied to options. The IRS also determined when a completed gift arises from option transfers and its valuation for gift and estate tax purposes.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1997
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