Are Entertainment Expenses Still Deductible?
Yes, but only in certain contexts.4/13/2018
tax planning
You may have heard that the Tax Cuts & Jobs Act eliminated nearly all possibilities to write off business entertainment expenses. That is not quite true. You may be able to claim a deduction for such expenses today, but it depends on who you are entertaining. Regardless of who you happen to entertain, you will want to confer with your CPA and consider some fine print.1
Firms can no longer deduct expenses linked to entertaining clients and prospects.
Meals are a gray area.
In-office meals are still partly deductible.
How about expenses for employee picnics and office parties?
Finally, how about employee achievement awards?
The takeaway: firms need to adjust the way they track these expenses.
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