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The latest win for Jeremy Jacobs: Bruins 1, IRS 0

It's one thing for the Boston Bruins and their owners, Buffalo's Jeremy and Margaret Jacobs, to win the Stanley Cup, as they did a few seasons ago.

But they also beat the IRS in court – over meals served to players and staff on the road.

It all comes down to tax deductions. Current tax law allows only half of the cost of a business meal to be deducted. The Bruins argued they should be able to deduct all of the cost of meals provided to players and employees ahead of road games – nearly $256,000 in 2009 and $284,000 in 2010.

The court's call? The Jacobs were right. They can deduct the whole cost.

A Wall Street Journal report on the tax decision noted the win by the Bruins could have broader implications for other businesses, which can only mean one thing: The Patriots will find a way to take advantage of this.

 

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