Income and Deductions – Wagner Tax Law

October 30, 2024Ben WagnerCategories: Ben Wagner, Income and Deductions, Internal Revenue ServiceTags: Basis Shifting, CA tax lawyer, California tax lawyer, Chevron, DOR attorney, DOR lawyer, DOR tax attorney, DOR tax case, Economic Substance, Internal Revenue Service, IRS, lawyer tax twin cities, MDR, MDR information, Metro MN Tax Lawyer, minneapolis tax, Minneapolis Tax Attorney, Minneapolis Tax Lawyer, minnesota tax, MN Tax Attorney, Partnership, Related-Party Basis Shifting, sd tax lawyer, st. paul tax, st. paul tax attorney, st. paul tax lawyer, tax attorney, tax attorney mn, tax lawyer mn, twin cities attorney tax, twin cities tax, Twin Cities Tax Attorney, Twin Cities Tax Lawyer, United States Treasury, wi tax lawyer, wisconsin tax attorney

Treasury and Internal Revenue Service Crack Down on Related-Party Basis Shifting

In June of 2024, the Internal Revenue Service (IRS) issued guidance attempting to address the percei...

August 21, 2024Ben WagnerCategories: Ben Wagner, Charitable Contributions, Income and Deductions, Internal Revenue Service, U.S. Tax CourtTags: CA tax lawyer, California tax lawyer, Charitable contributions, Charitable deduction, Conservation easement, Donation, DOR attorney, DOR lawyer, DOR tax attorney, DOR tax case, lawyer tax twin cities, MDR, MDR information, Metro MN Tax Lawyer, minneapolis tax, Minneapolis Tax Attorney, Minneapolis Tax Lawyer, minnesota tax, MN Tax Attorney, sd tax lawyer, st. paul tax, st. paul tax attorney, st. paul tax lawyer, tax attorney, tax attorney mn, tax lawyer mn, twin cities attorney tax, twin cities tax, Twin Cities Tax Attorney, Twin Cities Tax Lawyer, united states tax court, ustc, wi tax lawyer, wisconsin tax attorney

Two Easements Conserved But Not in Perpetuity

In February of 2020, the United States Tax Court issued a Memo, Railroad Holdings, LLC T.C. Memo. 20...

August 6, 2018Kathleen (Splett) PfutzenreuterCategories: Accounting, Appeals, Audits, Collection Issues, Employment Taxes, Income and Deductions, Kathleen (Splett) Pfutzenreuter, Real Estate, Sales & Use Tax AuditsTags: employee benefits, moving expenses, tax cuts and jobs act, TCJA

Are Moving Expenses Tax Free Under the New Tax Law?

Starting January 1, 2018, through December 31, 2025, job-related moving expenses are no longer tax-f...

June 24, 2018Kathleen (Splett) PfutzenreuterCategories: Appeals, Audits, Bankruptcy, Collection Issues, Employment Taxes, Income and Deductions, Kathleen (Splett) Pfutzenreuter, Levy, U.S. Tax CourtTags: sexual harassment attorney fees, sexual harassment business tax expense, sexual harassment nondisclosure agreement, sexual harassment settlement, sexual harassment settlement tax consequences, sexual harassment tax, sexual harassment tax liability business, workplace sexual abuse, workplace sexual harassment

Are Sexual Harassment Settlement Payments and Attorney Fees Tax Deductible?

Are Sexual Harassment Settlement Payments and Attorney Fees Tax Deductible? It depends on whether th...

March 13, 2018Kathleen (Splett) PfutzenreuterCategories: Accounting, Appeals, Audits, Income and Deductions, Kathleen (Splett) Pfutzenreuter, Minnesota Tax Court, Sales & Use Tax Audits, Settlements and VerdictsTags: administrative appeals DOR, administrative appeals minnesota, administrative appeals state, administrative appeals state of minnesota, appeals DOR, appeals minnesota, appeals state, appeals state of minnesota, time to appeal, time to dispute tax liability

Deadline to Appeal Minnesota Department of Revenue Assessment of Additional Tax

The Minnesota Department of Revenue (MDR) generally has 3.5 years from the date a tax return was due...

April 9, 2014Guest Contributor – Thomas M. ReganCategories: Employment Taxes, Income and Deductions, Settlements and Verdicts, Tom ReganTags: 20133501F, attorneys fees, LAFA, LEgal Advise Issued by Field Attroenys

Awards of Attorneys Fees to the Plaintiff – When Are They Taxable as Wages?

Settlements in legal disputes between employers and employees can vary significantly depending on wh...

February 25, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, business vehicle deduction, Code Section 162, Code Section 274, continuity and regularity, credit card receipts to prove business expenses, deducting mileage, Documentation, expenses for carrying on a trade or business, gifts deductible, gifts deduction, gifts rules for deducting, income tax audit, IRC Section 162, IRC Section 274, IRS Audits, irs business vehicle, irs meals and entertainment, irs vehicle expenses, listed property irs, meals and entertainment deduction, meals and entertainment expenses, meals and entertainment tax, mileage log taxes, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, Section 274, substantiation, trade or business expenses

Substantiating Business Expenses in Audits – Special Rules for Travel, Meals and Entertainment, Gifts, and any “Listed” Property Expenses

Substantiating business expenses is a common problem for many businesses going through an audit with...

February 7, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

Substantiating Business Expenses in Audits – Step Four: Proving a Business Expense is “Necessary”

Substantiating business expenses is a common problem for businesses going through an audit wi...

January 18, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Appeals, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

Substantiating Business Expenses in Audits – Step Three: Proving a Business Expense is “Ordinary”

Substantiating business expenses is a common problem for many businesses going through an audit with...

December 18, 2012Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and Deductions, Profit MotiveTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

Substantiating Business Expenses in Audits – Step Two: Proving a “Trade or Business” Incurred the Business Expenses

Substantiating business expenses is a common problem for many businesses going through an audit with...

October 9, 2012Guest Contributor – Mike O'BrienCategories: Family Court, Income and DeductionsTags: child care expenses tax credit, childcare expenses tax, children tax credit, dependent care tax credit, divorce tax, divorce tax credit, divorce tax issues, IRC Section 152, IRC Section 21, qualifying child tax credit, tax family attorney

Frequently Asked Tax Questions in Family Law Cases – Tax Credit for Child and Dependent Care Expenses

This is the first post in the Frequently Asked Tax Questions in Family Law Cases series. This series...

September 18, 2012Guest Contributor – Mike O'BrienCategories: Accounting, Appeals, Audits, Income and DeductionsTags: how long doe, how long does the IRS have to change a tax return, IRC 6501, IRS statute of limitations, statute of limitations on assessment

Two Easements Conserved But Not in Perpetuity

Changes to Tax Treatment of Qualified Transportation Fringe Benefits Under the Tax Cuts and Jobs Act

Are Moving Expenses Tax Free Under the New Tax Law?

Are Sexual Harassment Settlement Payments and Attorney Fees Tax Deductible?

Deadline to Appeal Minnesota Department of Revenue Assessment of Additional Tax

Awards of Attorneys Fees to the Plaintiff – When Are They Taxable as Wages?

Substantiating Business Expenses in Audits – Special Rules for Travel, Meals and Entertainment, Gifts, and any “Listed” Property Expenses

Substantiating Business Expenses in Audits – Step Four: Proving a Business Expense is “Necessary”

Substantiating Business Expenses in Audits – Step Three: Proving a Business Expense is “Ordinary”

Substantiating Business Expenses in Audits – Step Two: Proving a “Trade or Business” Incurred the Business Expenses

Frequently Asked Tax Questions in Family Law Cases – Tax Credit for Child and Dependent Care Expenses

IRS Statute of Limitations on Assessment for Individual Income Taxes: Exceptions and Considerations

Can I Recover Income Tax Refunds When I File My Returns Late?

IRS Audits: The Administrative Summons and Defending Against the Administrative Summons

Substantiating Business Expenses in Audits – Step One: Providing the Documents

Rental Real Estate Activities – Passive Loss Limitations

Contributing a Lake Home to a Fire Department

Historic Preservation Conservation Easements – A Good Tax Shelter?

Debt Forgiveness