meals and entertainment
Since the passing of the Tax Cuts and Jobs Act at the end of 2017, there has been confusion surrounding what exactly can be deducted as a business expense as it relates to meals and entertainment. Entertainment on its own is no longer a deductible expense, however there are some occasions where meals are deductible…
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The Tax Cuts and Jobs Act (TCJA) made significant changes to the deductibility of meal and entertainment expenses. Unfortunately, there’s still a great deal of confusion about which deductions have been eliminated and which remain. Here’s a summary with you, the contractor, in mind. Entertainment and meals The TCJA eliminated most deductions for activities considered…
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