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Are Meals And Entertainment Expenses Deductible?
Dr. Friday
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.
Last year there was a lot of confusion about small business owners, deducting meals and entertainment. And the question basically comes, can they or can they not? The rules really haven’t changed. I know a lot of people got very frustrated because at one point they were trying to remove it, but it was really more about employee reimbursement plans than it was small business owners. If the meal or entertainment is tied to generating income in the running of your business, it is still a legitimate trackable expense.
Don’t leave money on the table. Make sure you understand your tax laws to make sure you’re putting more money in your pocket. Call me.
Announcer
You can catch the Doctor Friday Call-in Show live every Saturday afternoon from 2pm to 3pm right here on 99.7 WTN.
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By Dr. Friday Tax & Financial Firm
5
11 ratings
Dr. Friday
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.
Last year there was a lot of confusion about small business owners, deducting meals and entertainment. And the question basically comes, can they or can they not? The rules really haven’t changed. I know a lot of people got very frustrated because at one point they were trying to remove it, but it was really more about employee reimbursement plans than it was small business owners. If the meal or entertainment is tied to generating income in the running of your business, it is still a legitimate trackable expense.
Don’t leave money on the table. Make sure you understand your tax laws to make sure you’re putting more money in your pocket. Call me.
Announcer
You can catch the Doctor Friday Call-in Show live every Saturday afternoon from 2pm to 3pm right here on 99.7 WTN.