Want to take me to lunch?
The IRS issued final regulations implementing provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, that disallow a business deduction for most entertainment expenses.
The regulations also clarify the treatment of business deductions for food and beverages that remain deductible, generally limited to 50% of qualifying expenditures, and how taxpayers may distinguish those expenditures from entertainment.
Download our chart to keep handy as you consider what you can expense and for how much.
If you have any questions about your company expenses, give me a call.