Happy New Year!
I don’t know what New Year’s resolutions you’ve made, but I’ve resolved to keep doing all I can to cut your tax bill in 2014… and I want to get started right now!
Let’s kick off the New Year with some great ideas about how to make an entertainment-facility tax deductible to you and tax free to your “rank-and-file” employees.
What does the IRS mean by an “entertainment facility”? Everything from a ski cabin, beach home, or swimming pool, to a baseball diamond, bowling alley, or golf course.”
You’ll get all the facts when you read my new article titled Tax Tips: Tax Deductions for Entertainment Facility (Part 3), Employee Use.
Three ways our fact-filled article can help you:
- We’ll tell you how to get a Trifecta of deductions. Appropriate use of your entertainment facility creates a 100% business asset with deductions for depreciation, operating expenses, and mortgage interest. Plus, your employees get a great fringe benefit! You’ll get the whole story when you read the full article.
- We’ll explain the important “51-49 test.” To qualify for employee entertainment-facility deductions, your employees must use the facility more than you do. You’ll get all the details when you read the full article.
- You’ll learn how to beat the notorious disallowance rules. When employees are the primary users of your entertainment facility, you’ll be exempt from the entertainment-facility disallowance rules. Which means you won’t have to worry about the “one taint of entertainment rule” that the IRS uses to cause you big trouble. You’ll find out more when you read the full article.