The Boston Bruins are in a battle with the Internal Revenue Service in U.S. Tax Court, with the hockey team arguing that player meals on the road should be 100 percent tax deductible.
From the Boston Globe:
The IRS limits deductions for meal expenses to 50 percent in most cases.
The Bruins contend the 50 percent cap — contained in a section of the tax code for “entertainment, amusement, or recreation” — should not apply because fueling world-class athletes for competition is a fundamental part of their business.
“In short, the pregame mandatory meals and the meetings at away city hotels allow the club and the players to prepare for the upcoming game — both physically and mentally,” the petition by the Bruins owner said. “In this regard, the pregame meals and the meetings serve as a necessary component of the Bruins’ hockey operations.”
We’re no tax experts here at PHT, but we’d tend to agree with the team’s assertion that fueling Zdeno Chara is a “necessary component of the Bruins’ hockey operations.” Even more so next season!
Bloomberg BNA was the first to report on this story.