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Soft Landing For Pilot As Billionaire’s Insider Case Wraps

by usoftax_admin | Dec 10, 2024 | Tax News

A pilot who admitted to dodging taxes on $500,000 in income after he was accused of taking stock tips from Joe Lewis, his billionaire boss, avoided prison on Tuesday at a sentencing that closed a high-profile insider trading prosecution.

Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

by usoftax_admin | Dec 10, 2024 | Tax News

Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process...

Treasury Finalizes Simplified Foreign Currency Rules

by usoftax_admin | Dec 10, 2024 | Tax News

The U.S. Treasury Department finalized regulations Tuesday that aim to simplify aspects of how corporations determine taxable income or loss with respect to certain affiliates that conduct business in a foreign currency.

SG Tells Justices To Pass On Philly Tax Credit System Dispute

by usoftax_admin | Dec 9, 2024 | Tax News

The U.S. solicitor general advised the U.S. Supreme Court on Monday to decline to hear a Philadelphia woman’s claim that the city’s refusal to provide a credit for Delaware state taxes paid is unconstitutional, saying the policy doesn’t inherently...

10th Circ. Affirms Nix Of Atty’s Racing Expense Deductions

by usoftax_admin | Dec 9, 2024 | Tax News

The Tenth Circuit affirmed Monday the U.S. Tax Court’s determination that a Denver personal injury lawyer shouldn’t be allowed to deduct about $300,000 for his car racing-related costs as advertising, despite his claims that his races helped him drum up...
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