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Corporate & Securities Law
: Jim Hamilton's World of Securities RegulationBy James Hamilton
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US Supreme Court Rules Trust Investment Advisory Fees Not Fully Tax DeductibleA trust cannot fully deduct investment advisory fees it incurred from its federal taxable income, ruled the US Supreme Court, but instead is subject to the 2% floor on deductions. In a ruling of intense interest to the investment adviser community, a unanimous Court said that the exemption in the Internal Revenue Code from the 2% floor for costs which are paid in connection with the administration of a trust, and which read more
Full post as published by Jim Hamilton's World of Securities Regulation on January 24, 2008 (boomark / email).
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