Home office marches on (in spite of Soliman)

Article Abstract:

The 1997 Taxpayer Relief Act included provisions affecting the home office business deduction. Effective in 1999, a home office can also function as a business's administrative base. The 1993 Soliman decision nullified the traditional exception for a home office as a principal place of business. This area remains the most-litigated question associated with home offices.

Expense deductions, Home offices

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Tax implications of new legislation designed to provide adoption incentives

Article Abstract:

Taxpayers who adopt children during or after 1997 are eligible for an adoption expenses tax credit under the provisions in the 1996 Small Business Job Protection Act. In addition to the credit, employer-provided adoption assistance can be excluded from income. These tax incentives are designed, in particular, to encourage the adoption of special needs children.

Other Justice, Public Order, and Safety Activities, Adoption Law, Adoption, Family law, Tax credits

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Tax planning guidelines for casualty loss deductions

Article Abstract:

The requirements for allowable casualty loss deductions under IRC section 165(c)(3) and relevant planning issues are the subject of this article which includes discussions of IRS guidance and case law.

United States, Analysis, Planning, Tax planning, Loss deductions

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