The Tax Cuts & Jobs Act had a significant impact on what businesses can deduct for meals and entertainment. Below are some of the common questions we receive from clients.
No
No
Yes. Under the new tax law, meals provided to the public to generate business are 100% deductible.
No, membership fees and dues are not deductible even if business is discussed.
Yes, traditional recreational employee meals like those at an employee picnic or corporate holiday party are 100% deductible.
No, tickets to sporting events are considered entertainment and are not deductible under the new tax law.
Yes.
Do you have additional questions about the meals & entertainment tax deductions? Contact your accountant directly or click the button below to start a conversation with us!