Free 2018 Tax Planning2019-01-05T15:05:52+00:00

Free 2018 Tax Planning

Meals

Under the new law, deductions for business-related entertainment expenses are disallowed. Prior to 2018, taxpayers could deduct 50% business-related meals and entertainment.

Example
Joe, a business owner takes a client to dinner where they discuss business. After which Joe takes his client to the golf course.  The meal is still 50% deduction but the golf outing is not.