Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Amortization

Seismic studies bought along with proven oil and gas properties aren’t amortizable

Seismic studies bought along with proven oil and gas properties aren’t amortizable

Chief Counsel Advice 201552024 In Chief Counsel Advice (CCA), IRS concluded that the costs of seismic data acquired as part of an asset acquisition weren’t geological and geophysical (G&G) exploration costs eligible for amortization under Code Sec. 167(h). The seller used the seismic data to locate and identify productive oil and gas properties, which it […]

Read the full article →

Baseball team had to amortize player signing bonuses over contract period

Baseball team had to amortize player signing bonuses over contract period

In Legal Advice Issued by Field Attorneys 20133901F, IRS has concluded that signing bonuses paid by a minor league baseball team to its players must be amortized over the term of the player contracts and not over the shorter period that such contracts historically lasted before they were terminated. Facts. Taxpayer operates a minor league […]

Read the full article →
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney