April 2013 issue

April 2013

Overview

In this month’s Accounting Methods Spotlight, taxpayers are given timely insight into the benefical extension of the ‘enhanced’ deduction for charitable contributions of food inventory. This month's issue also provides updates on a range of federal income tax matters, including whether minimum royalties must be capitalized under Section 263A, whether certain payments under settlement agreements are deductible as business expenses, and whether the transfer of a patent pursuant to a licensing agreement can later be recharacterized as a sale. In addition, this issue discusses the deferral of tax from a like-kind exchange (LKE) program and whether a bank is required under Section 263A to capitalize costs associated with "other Real Estate Owned."

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