from Syd Gernstein of Bloomberg BNA,

At issue is whether the Boston Bruins hockey club may deduct 100% of the costs it incurred to provide its players and staff with meals while travelling to away games. The case poses the IRS and Tax Court with some fairly interesting questions concerning the deductibility of employee fringe benefits.

The tax Code of course allows businesses like the Bruins to deduct their business expenses. Issues, however, crop up the less that the expenses resemble business and the more that they resemble entertainment.

Providing employees with food and beverages, the Bruins in this controversy land in the murky no-man’s land between the two. It will come as shock to approximately no one that the tax Code prescribes a complex and not-always-intuitive formula for navigating this real estate. Summarizing briefly and, seriously, as simply as I possibly can:

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thanks to Joe Haggerty of CSNNE for the pointer...