The Non-Deductibility of Juris Doctorate Degree Expenses Under Treasury Regulation 1.162-5

 

The effects of the recent economic recession and the relatively high unemployment rates that ensued are still felt across the country. According to “The American Workforce,” a survey conducted for The Springboard Project, approximately eight in ten workers, regardless of income or education level, show keen interest in pursuing further training and education.[i][ii] Fortunately, given the relative generosity of the U.S. Tax Code, there are several ways to deduct qualified educational expenses. For example, adults may be able to claim the Lifetime Learning Credit, 20% of the first $10,000 of qualified education expenses, for a maximum amount of $2,000.[iii] However, the income cutoff for Lifetime Learning begins to phase out for singles with modified adjusted gross income above $48,000 and couples above $96,000.[iv] (See IRS Publication 970). Luckily, there’s another option, and the focus of this article, which is deducting educational expenses as Read the rest

Facebook IPO Proves More Transparency Needed for Investors, but Will Twitter Listen?

In light of its growing popularity as a social media tool with more than 200 million active users, [i]Twitter announced in September of 2013 that it was ready to launch an Initial Public Offering (IPO). Twitter, which has never turned a profit in its seven years in existence, had originally set a price range of $17 to $20 per share for the IPO.[ii] Despite these earlier projections, Twitter announced in a tweet on November 6, 2013 that it priced its stock at $26 per share due to high initial demand for its IPO. [iii]

 Twitter’s stock market debut is also “likely to be scrutinized [from the beginning] since Facebook went public in May 2012 and promptly flopped.” [iv] Given this enhanced level of investor interest, Twitter decided it would avail itself of the fast track IPO process which is part of the Jumpstart Our Business Startups Act (JOBS Act). … Read the rest

The Macy’s, JC Penney, and Martha Stewart Love Triangle: Is Freedom of Contract Threatened?

Background

In 2011, Martha Stewart called Macy’s CEO Terry Lundgren and announced she wanted to have her cake and eat it too – she was breaking her contract with the company. [1]

The contract granted Macy’s exclusive rights to sell Stewart’s bed, bath and kitchen merchandise. [2] In exchange for these rights, Macy’s spent millions to bring Stewart (then fresh out of prison) back to the forefront as America’s homemaker extraordinaire. [3]

But after some questionable missteps from competitor JC Penney, Stewart decided exclusivity was not in her best interest.

The Macy’s contract forbid Stewart from designing products in those categories of housewares for anyone else. The contract made a very narrow exception for Martha Stewart-owned stores. [4]

Ron Johnson, JC Penney CEO at the time, knew about the Macy’s contract when he offered Stewart a competing contract. [5] As part of his plan to keep his struggling department store Read the rest

Crimes Against Humanity, I’m Lovin’ It: Issues in Sponsorship of the 2014 Sochi Winter Olympics

Crimes Against Humanity, I’m Lovin’ It: Issues in Sponsorship of the 2014 Sochi Winter Olympics

By: Inessa Goodman

 

While business leaders and CEOs have never shied away from promoting their political agendas and views, the line is sometimes blurred between what is appropriate, and what is not. The recent controversies involving Chik-fila, Barilla, and their public statements against the LGBT community highlight this issue. Recently, a similar issue has surfaced, not involving public statements, but mere funding of an entity that supports questionable social policies. 

What effect does this have on businesses? Should businesses be held more accountable for their social responsibility? Specifically, this article explores this issue in the context of the upcoming Winter Olympics in Sochi, Russia.

Current Anti-Gay Legislation in Russia

Homophobia is now engrained in the state policies in Russia. In June 2013, Vladimir Putin, president of Russia signed an “anti-gay propaganda law”. These laws … Read the rest