Business Tax Quarterly Suggested Readings - Winter 2018

IRS Provides Added Clarity on the Deductibility of Business Meals
Proposed regulations will clarify when business meal expenses are nondeductible entertainment expenses and when they are 50 percent deductible expenses. Until the proposed regulations are effective, taxpayers will be able to rely on several points of guidance.

What You Need to Know Now About Meals and Entertainment Expenses
In this segment, Carolyn Dolci—partner and leader in EisnerAmper’s Law Firm Services Group—discusses what you need to know about expensing meals and entertainment under the 2017 Tax Cuts and Jobs Act.

Corporate America Wins Some Reprieves in IRS’s Foreign Tax Rules
The agency issued guidance that would in some ways allow businesses to minimize the hit when calculating how much they owe for the new levy on their GILTI. Companies only have to allocate half—instead of all—of certain domestic expenses to foreign subsidiaries.

New Jersey Feeling GILTI About Leaving Cash on the Table?
Policy makers around the country are at loggerheads over whether to support state taxation of GILTI. Without the ability to offset the state tax with foreign tax credits, it has the potential to be a windfall for state coffers.

Business Tax Quarterly - Winter 2018

• Business Tax Quarterly Executive Summary
• 4 Tips to Navigate New Meal and Entertainment Rules
• 5 Considerations for Year-End Tax Provision Reporting
• Business Tax Quarterly Suggested Readings