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

by Philip Rukosuev November 22 2013, 16:15
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. 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. 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. (See IRS Publication 970). Luckily, there’s another option, and the focus of this article, which is deducting educational expenses as a job or career expense. Self-employed individuals (sole proprietors) can write such expenses off as a business expense on Schedule C, and employees can claim a miscellaneous itemized deduction as an “unreimbursed employee business expense.” This option is especially attractive to individuals who are in the higher tax brackets, for whom the government will pick up 39.6% of the cost of courses (i.e. 39.6% is deducted as a business expense). [More]



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

by Jennifer Brown November 19 2013, 22:18
In light of its growing popularity as a social media tool with more than 200 million active users, 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. 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. [More]

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

by Maddie Davis November 16 2013, 20:36
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]



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

by Inessa Goodman November 12 2013, 21:23
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. [More]

Entrepreneurship in Brazil

by Sarah Peaceman March 26 2013, 23:33
It’s a good time to be an entrepreneur...At least in Brazil. [More]

Entrepreneurship in Turkey

by Sarah Peaceman February 23 2013, 08:55
Although Turkey is often considered an emerging market, and indeed has many positive attributes that make it an attractive place to invest and do business, it is not a hotbed of entrepreneurship; and until it receives more governmental and societal support, it will not be for quite some time. In this country, population 75,705,147, there is a tremendous amount of capital and market potential, but there are many obstacles to attracting investment and opportunities for entrepreneurship. That said, there are also enormous possibilities for entrepreneurs in Turkey, provided that some of the country’s issues improve. [More]

Shadow banking: Help is on the Way

by Morgan Churma December 7 2012, 10:22
Despite being recognized as a primary culprit of the financial crisis, shadow banking has continued to flourish. According to the Financial Stability Board (FSB), shadow banking has grown since the onset of the crisis from $62 trillion in 2007 to $67 trillion[i]. Fortunately, the FSB plans to release regulatory recommendations by the end of the year. This article will summarize the risks inherent with shadow banking, the effects of the Dodd-Frank Act, and possible reforms designed to mitigate these risks and any inadequacies of Dodd-Frank. [More]

3 1 / 2 Job Hiring Practices That Can Skew Your Qualifications

by Jasmine Reed December 4 2012, 23:22
Hiring practices have come a long way over the past century. There are now stringent laws which prevent hiring discrimination based on race, color, religion, sex, national origin, age, disability or genetic information.[i] As a result, when an individual submits a job application, they should be evaluated based on their qualifications. Unfortunately, there are still hiring practices that may prevent a qualified person from acquiring a job.



Weeding out the Odds: Analysis of Oregon and Washington’s Constitutional Amendments to Legalize Recreational Use of Marijuana

by Marvis Barnes December 4 2012, 22:55
Far away in the backdrop of the 2012 Presidential election, laid a secondary story that would make for primetime headlines on any other given day. That particular secondary story was none other than the states of Colorado and Washington successfully passing constitutional amendments that legalized recreational use of marijuana. [More]


Economics | Tax

Uber Battle: Cabbies vs. Startup

by Matt Diamond November 30 2012, 11:05
Those who have hailed a taxi or used public transportation can attest to the downsides of urban transportation including dirtiness, crowdedness, and unreliability. Since its founding in 2010, San Francisco-based startup Uber has aimed to appease the unsatisfied market of urban dwellers that desire easier, cleaner, and more dependable transportation than has been available. [More]

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