IRS raises per diem standard rates for business travel
The special per diem rates by which taxpayers may substantiate ordinary and necessary business expenses of travel away from home...
Permanent component of a temporary difference: ASC Topic 740 analysis
Oct 4, 2022
In its November 2021 20-year review of financial restatements, Audit Analytics reports that accounting for income taxes has been among the top...
Guaranteed payments vs. distributive share of income
Sep 30, 2022
Historically, the income tax treatment of a distributive share of partnership ordinary income did not differ significantly from that of...
Cryptoasset clarity needed for private fund managers
Sep 27, 2022
Current IRS guidance lacks direction for investing through a private fund The IRS’s guidance on cryptoasset income tax reporting standards...
Implications of legislative changes for R&E and software development costs
Sep 23, 2022
The 2017 law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, amended Sec. 174 to require capitalization and...
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