Banking

You are here: Home : Topics A-Z : Banking

Spreadsheets and Banking Fee Deductions

Determining whether "success-based" banking fees are deductible in M&A transactions takes some patience. But in a hypothetical case, the IRS ruled on how to treat the work of an accounting firm that was not directly involved in the deal.

February 8, 2010

The Internal Revenue Code, specifically Section 162(a), states that a deduction is allowed for all ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business. That may seem simple enough, but corporate taxpayers must consider how a related rule — Regulation Section 1.263(a)-5(a) — affects the deduction. Read more...

Follow this topic

Sign up for newsletters
Subscribe to our Banking RSS feed

More Banking Articles

CFOs Head to the IASB
Finance chiefs from Hannover Re and FirstRand Banking are joining the standard-setting board. February 5, 2010
BofA Execs Hit with Civil Charges
In the wake of the bank's proposed settlement with the SEC, a new suit by the New York Attorney General accuses former CFO Joe Price and ex-CEO Ken Lewis of concealing the meltdown at acquisition target Merrill Lynch. February 4, 2010
A Boost for Insurance Capital
Insurers could get a big regulatory-capital benefit by securitizing private-equity investments. But it's easier said than done. February 4, 2010
A Debt Deferred
Revitalized capital markets and forgiving lenders helped overleveraged companies fend off bankruptcy in 2009. Is this the year the bill comes due? February 1, 2010
Lenders Are Holding Firm, Says Fed
Banks maintained tough underwriting policies on commercial and industrial loans in the fourth quarter, while tightening terms on credit lines. February 1, 2010
Wells Fargo Is Chastised for SILO Deals
Wells Fargo's refund claim on 26 leveraged lease deals did not pass muster in tax court, and the company was "condemned" for having the audacity to go forward with such abusive shelters. January 25, 2010
Are Your Payment Systems Secure?
The rise in fraud related to Automated Clearing House payments puts businesses and their banks at risk. January 25, 2010
Hold the Line (of Credit)
Issuance of corporate lines of credit sinks to its lowest level since 1993. January 15, 2010
Giving Up on Federal Help, E*Trade Turns to Self-Help
CFO Bruce Nolop discusses how the online brokerage firm recapitalized itself without aid from the Troubled Asset Relief Program. January 12, 2010