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Tax Cuts and Jobs Act Corporate Counsel Tax Deductions

Frost Brown Todd

Top 10 Biggest Business Tax Breaks (and Hits) in the One Big Beautiful Bill Act

Frost Brown Todd on

With a name like the One Big Beautiful Bill Act (OBBBA), you know two things right away: (1) it’s a mouthful, and (2) you’re going to have to wade through a lot to find the useful parts. Fortunately, two tax lawyers already...more

BakerHostetler

[Podcast] An Analysis of the 2025 Federal Tax Changes Under the “One Big Beautiful Bill” Legislation

BakerHostetler on

The Honorable Peter Roskam, Federal Policy Team Leader, and Jeff Paravano, Tax Group Chair, break down the 2025 tax reconciliation legislation. They explore how the new law preserves key provisions of the Tax Cuts and Jobs...more

Williams Mullen

Implications of the One Big Beautiful Bill Act on Tax Deductions for Businesses

Williams Mullen on

President Trump signed the One Big Beautiful Bill Act (OBBB Act) into law on Friday July 4, 2025. Among other changes to existing federal tax laws (many of which are discussed by other alerts from this firm), the OBBB Act...more

Miller Canfield

Does a Tax Cut Jobs Act Provision Decrease Income Taxes on Marijuana Businesses?

Miller Canfield on

Key Takeaways: ..A pending U.S. Tax Court case presents an interesting theory to preclude the federal income tax disallowance of all deductions of a marijuana business. ..The theory rests on a provision in the 2017 Tax...more

Littler

IRS Issues Proposed Rule on Business Expense Deductions

Littler on

On February 26, 2020, the IRS published proposed regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) regarding the elimination of deductions for entertainment and the limitation on food and...more

Morgan Lewis

Recommended Practices for Employer-Provided Meals and Snacks in Light of Recent IRS Guidance

Morgan Lewis on

The IRS continues to aggressively audit how free meals and snacks offered to employees in many workplaces are treated for federal tax purposes. Recent IRS guidance in this respect is Technical Advice Memorandum 201903017 (the...more

Fox Rothschild LLP

IRS Says Business Meals Remain Deductible, But Cannot Be ‘Lavish’ Or Mixed With Entertainment Costs

Fox Rothschild LLP on

Resolving widespread confusion, the IRS this month issued important guidance that clarifies when a meal or drinks will be allowed as a deductible business expense following the changes made by the Tax Cuts and Jobs Act. The...more

Dentons

Calculating The Qualified Business Income Deduction Under Section 199a - Limitations To Avoid And Opportunities To Pursue

Dentons on

Section 199A of the Internal Revenue Code was enacted on December 22, 2017, as part of the Tax Cuts and Jobs Act and provides for a deduction of up to 20% of income from certain domestic businesses operated as sole...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Tax Reform Bill Stifles #MeToo Settlement Deductions

In acknowledgment of the recent sexual misconduct allegations and the confidential settlements in connection with those allegations, Congress added a new section 162(q) to the Internal Revenue Code as part of the Tax Cuts and...more

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