The Mumbai Cricket Association’s (MCA’s) five-year ban on Bollywood actor and Kolkata Knight Riders (KKR) co-owner Shah Rukh Khan took a political turn on Friday with the West Bengal government coming out in full support of the star against the cricket body’s decision.West Bengal Chief Minister Mamata Banerjee said Khan was the brand ambassador of her state and she appealed to the MCA to reconsider its decision. Referring to the Wankhede incident of Wednesday night, she said such incidents happen because of children.The MCA headed by Congress leader and Union Minister Vilasrao Deshmukh had on Friday morning decided to impose the five-year ban on SRK for his alleged misbehaviour with its officials.Prior to Banerjee, her Sports Minister Madan Mitra said Shah Rukh was the “nicest person” and “if a father watches his daughter being misbehaved in front of his eyes, he is sure to react”.Mitra asked Shah Rukh not to worry about the Wankhede ban adding “he is more than welcome in Eden Gardens and will get an ovation”.In fact, reacting to the ban, Mitra said, “Goondas belonging to a political party had vandalised Wankhede… Was their leader banned from Wankhede?”
The holiday season is just around the corner—a time when many of us enjoy more occasions involving food, drink, and, if we’re lucky, travel. For self-employed individuals, entertaining clients or traveling to their places of business can seem like a veritable feast of potential tax deductions. However, the IRS doesn’t quite see it the same way, so it’s important to know the tax rules related to travel and entertainment (T&E) expenses.Remember, not all T&E expenses are created equal.The first thing to chew on when it comes to T&E expenses is that while business-related travel costs are deductible on a dollar-for-dollar basis, expenses for meals and other forms of entertainment can only be deducted at a rate of 50 percent of their actual cost. So if you treat a client to a holiday lunch and the bill comes to $100, you can only deduct $50 from your taxable income. Also keep in mind that the IRS accepts deductions for T&E expenses only when they are not considered “lavish or extravagant” which is usually determined by a reasonableness test. For example, if you have a client that generates $2,000 of billings a year for your business, taking a deduction for a $3,000 off-site “meeting” in an exotic location may raise some IRS auditors’ eyebrows.Make sure your deductible expenses really are related to your business operations.In general, expenses for travel, meals, and entertainment are only deductible (1) when you are traveling away from home for business-related purposes and (2) when the meal or activity constitutes business-related entertainment. While you may be tempted to throw a few receipts from personal holiday meals into your business expense file, this is not an advisable—or legal—practice. The IRS rules for T&E expenses specifically state that they may be deducted only when they are “directly related to” or “associated with” your business.To pass the IRS “directly related” test you must have an “active” discussion with your client with the ultimate goal of achieving increased revenues, or some other specific benefit, not just general goodwill from having a favorable meeting with a client or associate. Generally, “meetings” taking place at sporting events, night clubs, or cocktail parties— essentially social events— would not meet this test, unless there was a “substantial business discussion” that takes place before or after such an event.While this rule might seem stringent, it is important to note that you do not have to discuss business during the meal or social gathering, but a “substantial business discussion” does need to take place on the same day, unless you or your client travel from out of town, then you can still deduct a meal or entertainment expense that is incurred the day before or after your business meeting.Before you deduct any expenses, you must document them.In general, all business travel costs related to time away from your business “tax home” (i.e. the city or area where your business is located) are deductible, if properly documented. Like other expenses, a deduction for travel expenses is not permitted if it does not have sufficient documentation. Documentation of both travel and entertainment expenses must include the amount spent, the time and place of the event, its business purpose, and the business relationship of the individuals involved. Any amount paid in excess of $75 or more requires a receipt or other physical document as proof.Join the nation’s largest group representing the new workforce (it’s free!)Become a memberMixing business and pleasure doesn’t lower your taxable income.If you decide to mix business and pleasure and visit a client while also enjoying some personal time after you get there, keep in mind that your travel costs (including any mileage, calculated at the standard IRS reimbursement rate) to and from the destination would be fully deductible (as long as you are actually visiting a client) but no personal entertainment or meal expenses can be deducted. If you attend a convention or seminar that you travel to, it is likely that the IRS will scrutinize the nature of the meetings to determine if they are disguised vacations.Bring the family on a business trip, but don’t deduct their expenses.When it comes to having family accompany you on a business trip, the IRS does not allow any deductions for travel or other related expenses for family members unless they are traveling with you as employees of your business and are necessary to the business purpose of your trip. A necessary business purpose does not generally include the participation of a spouse or partner in social functions, even if they are a host or hostess. Additionally, any incremental costs incurred because of a family member’s presence on your trip are considered non-deductible. So, if the cost of your hotel room is 15 percent higher because the extra person is staying with you, the incremental 15 percent charge is non-deductible; the other 85 percent would be a deductible business expense.Be above board when it comes to T&E deductions.Self-employed individuals often entertain clients or travel to meet them in the course of conducting their regular business and these activities are often heightened over the holidays. As such, it is essential to track and document all legitimate T&E expenses and to be clear about which ones are fully deductible, which ones are partially deductible, and which ones are not deductible at all. Remember, overstating T&E expenses may raise a red flag for an IRS audit, so be sure to only deduct legitimate business expenses and seek the assistance of a tax professional to ensure that you are calculating and reporting them correctly on your tax return.Jonathan Medows is a New York City based CPA who specializes in taxes and business issues for consultants across the country. His website, www.cpaforfreelancers.com, has a resource section with how-to articles and information for freelancers.
Ashley BrandsonAPTN NewsA 17-year-old Manitoba girl manufactures and successfully sells her own jingles cones.But with success comes hurdles – including new U.S. tariffs on steel.Ashley Brandson brings us firstname.lastname@example.org
March 13, 2019 New lawsuit targets Prevagen, challenges claims that the supplement to improve memory Updated: 1:48 PM Sasha Foo, Sasha Foo Categories: Health, Local San Diego News, National & International News FacebookTwitter 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – A popular supplement that claims to boost memory is the target of a new lawsuit. The supplement called Prevagen is sold in nearly every major retail store in the country, but critics say it’s worthless.In advertisements on TV and online, the manufacturer of Prevagen says the product will support a “sharper mind,” “clearer thinking” and “healthy brain function.”The product label says that clinical tests demonstrated some improvements in cognitive function in as little as 90 days.However, the plaintiffs in a class action suit fled in Texas in late February said those claims are false, deceptive and designed to “dupe consumers ” into buying a supplement that has no effect on the brain.Prevagen contains a synthetic protein called apoaequorin, modeled on a protein found in jellyfish.Dr. Neal Devaraj, a biochemist at the University of California San Diego said a protein taken orally would be broken down in the digestive process before it could reach the bloodstream. Since apoaequorin is a large water soluble protein, Devaraj said it would be unlikely for it to pass the barrier from the bloodstream into the brain.Even though many may question the scientific basis for Prevagen’s claims, the manufacturer is still permitted to make its claims through its commercials, on the product package and on the bottle itself. Miro Copic, a professor of marketing at San Diego State University said that products marketed as dietary supplements face much less regulatory oversight.“The dietary supplement space is kind of the ‘Wild, Wild West,’ ” Copic said. Unlike pharmaceutical drugs, Prevagen isn’t subject to review by the Food and Drug Administration.The supplements are covered by a 1994 law that’s less protective of consumers.In the stores we visited, we found that the product was nearly sold out. A bottle of the extra strength formula sells for $60 a bottle, for a 30 day supply.Two years ago, the company that makes Prevagen was sued by the Federal Trade Commission. In its defense, Quincy Bioscience, based in Madison, Wisconsin argued that it had performed clinical trials to support its claims.The FTC countered that the initial studies were inconclusive. However, the judge hearing the case ruled in Prevagen’s favor, after the supplement maker went back to the data, and selectively picked data subgroups to support its marketing claims.While Prevagen prevailed in that 2017 case, last month a federal appeals court overturned the decision, setting the stage for the latest lawsuit. Copic said the suit poses challenges for the plaintiffs.“You’re not being forced to buy this. It’s not a prescription.They’re making no claims that it will help you specifically. That’s why a lot of times, lawsuits in this arena are really hard to win,” Copic said.Quincy Bioscience declined our request for an interview about the lawsuit.A company spokesperson told us, “Nevertheless, we believe the claims are baseless and we will continue to fight these allegations on behalf of the millions of consumers who take Prevagen every day to improve their memory.”The class action lawsuit filed several weeks ago is seeking reimbursement for the amount the class members spent on Prevagen and the difference between Prevagen and the market price of generic protein pills of a similar quantity and type. Posted: March 13, 2019
A union parishad member was killed in what police called a gunfight with them in Teknaf of Cox’s Bazar early Tuesday, reports UNB.The deceased was Hamid Member alias Dakat Hamid, 45, a member from ward-5 of Sadar union parishad and son of late Abul Hashim of Maheshkhalia in the upazila.According to police, Hamid was accused in 12 cases filed on different charges, including human trafficking, murder, and possessing firearms and drugs.Pradip Kumar Das, officer-in-charge of Teknaf model police station, said a police team, led by sub-inspector Sujit Chandra Dey, conducted a drive in Maheshkhalia area around 3:30pm on Monday and arrested Hamid.Around 1:00am, they conducted another drive at Maheshkhalia Noughat along with Hamid to recover firearms and yaba pills, he said.When police reached the spot, Hamid’s cohorts opened fire on them forcing them to retaliate which triggered a gunfight, the OC said, adding that he was caught in the line of fire at one stage.Hamid was taken to Teknaf Health Complex where the physicians referred him to Cox’s Bazar Sadar Hospital for better treatment.However, he succumbed to his injuries around 3:40am.Three policemen were also injured in the gunfight, Pradip claimed, adding that they recovered 4 LGs and 6,000 yaba pills from the spot.
The Films and Theatre Society offers audiences a five-day Winter Theatre Festival as a New Year’s present featuring some blockbuster performances. The festival that spans from January 8 to 26, will be held at the Capital’s Kamani Auditorium in Mandi house and it will see Rakesh Bedi, set the stage on fire with his famous play Massage in which he plays as many as 24 different characters as the festival opens. And the curtains will be drawn by play Kahani Teri Meri starring legendary actor and costume designer Dolly Ahluwalia. Also Read – ‘Playing Jojo was emotionally exhausting’The interesting feature of this festival as is that all the plays are of different genres. After Massage on January 8, one will witness an Indian adaptation of Shakespeare’s Merchant Of Venice, called Saudagar followed by Wo Lahore, A family drama set up in the times of partition and Draupadi, an all-woman musical drama depicting the story of world’s most blessed as well as most-cursed woman. “In the last five years, our aim has been to present before our audiences a different play and this festival confirms it. We have roped in Dolly Mam as Boodhi Kaaki in my play Kahani Teri Meri, earlier known as Koobar aur Kaaki and getting to see Dolly mam perform live on stage is a chance not everyone gets. She lives her character,” says Atul Satya Koushik, the director of the festival. Also Read – Leslie doing new comedy special with Netflix“We make sure that we are taking our plays to various cities like Jaipur, Lucknow, Mumbai, Chandigarh and as we move around, we realize that even Delhi is missing out on some amazing performances in those cities. That’s how we got the idea to invite Rakesh Bedi’s play Massage to our festival,” adds Koushik, who is also the writer-director of 15 plays produced by the society.Massage, a two-act play, is a monologue in which Rakesh Bedi portrays several characters which can be seen vividly as the play progresses. Written by one of the most prolific and hard-hitting writers of modern India, Vijay Tendulkar, Massage tries to peep into the underbelly of today’s society through the escapades of Happy Kumar, who comes to join the film industry to become an actor while Saudagar is an Indian adaptation of one of the most famous plays of William Shakespeare – Merchant of Venice. This adaptation is peculiar for recreating quintessential Shakespearian moods on stage in an Indian set-up. Wo Lahore, a musical drama, is set in the middle of twentieth century’s India which has been the most-written, most-performed and most-talked-about part of Indian history. This is a story of an ordinary woman, a mother of three sons, who tries to keep her family intact amongst everything that is happening around. This play shows the internal conflicts and turmoil prevailing in an ordinary Indian family with the struggle for freedom, social beliefs of those times and the then partition in the backdrop.Draupadi has always been a celebrated character of the epic of Mahabharata and many myths, conventions and perceptions have been associated with her in various versions of her life’s story. This plays takes excerpts from the story of Draupadi as known to everybody and adds to it some imaginative sequences to bring out the real essence of association between Draupadi and today’s women. Kahani Teri Meri, earlier known as Koobar aur Kaaki, is an amalgamation of Munshi Premchand’s Boodhi Kaaki and Dharamveer Bharti’s Gulki Banno. Atul Satya Koushik has merged the two stories in such a way that their essence and the exquisiteness remain unharmed. The vision and mission of the director transcends the stories to an incredible level. The play depicts the various desires of human beings.When : January 8 to 26 Where: Kamani Auditorium, Mandi House