Tax Section
When Are Meal Expenses Nondeductible Entertainment?
The IRS recently issued Notice 2018-76 to provide transitional guidance on the deductibility of certain business meal expenses. Taxpayers may rely on the…
Thoughts After Kiawah
It was great seeing many of you over the Memorial Day weekend at the Tax Section Annual Workshop in Kiawah. I am pleased to say that we are making…
Federal Income Tax Update, Part II
I. No Tax Basis Increase for Loan Guaranties Even After the S Corporation Loan Is Called in Full. An S corporation shareholder may deduct his/her pro rata…
Our Annual Workshop In Kiawah Is Just Two Months Away
On Wednesday, March 7, the Tax Section Council met at the Mecklenburg County Bar Center in Charlotte, and so I wanted to give everyone an update on some of…
Federal Income Tax Update, Part I
I. Audit Statistics; What Are Your Chances of Being Audited? The 2016 Internal Revenue Service Data Book (IR-2017-69) contains audit statistics for the fiscal…
Tax Reform: Selected Planning Points
Below are selected planning points regarding recent tax changes. This summary does not discuss which provisions are temporary and which are permanent. A.…
What Businesses Should Know About Business Personal Property Tax
The majority of property tax appeals concern arguments over the value of real estate, such as commercial retail buildings, commercial office buildings,…
Tax Questions For Discussion: Please Respond
Please provide comments about the issues below to Herman Spence at [email protected]. I will summarize the responses and post them on the Tax…
From the Chair: Kiawah In the Rear View — and On the Horizon
It was great seeing many of you over Memorial Day weekend at the North Carolina/South Carolina/Georgia Tax Update program in Kiawah. A special thanks to Isaac…
Federal Income Tax Update: Part 2
I. Hobby Losses: Horse Breeder Had For-Profit Activity. The 7th Circuit Court of Appeals reversed the Tax Court and held Mr. Roberts engaged in his horse…