As I’ve explained recently in the Tax Reduction Letter, the new tax reform law has done serious damage to business-entertainment and meal-expenses deductions.
Take a client or a prospect out to lunch or a show and you can forget about writing off the costs.
But there is still some good news.
If you make business presentations, related expenses can be deducted in full.
So… eat, drink, and be merry, but before you do, read my new article titled Tax Tips: Tax Reform Allows 100 Percent Deductions for Presentation Expenses!
Three ways our fact-filled article can help you:
- You’ll learn how the new law affects presentation deductions. Under the new tax law, not only do presentation expenses survive as deductions. They continue as 100% expense deductions! We’ll explain how to take full advantage of the law when you read the full article.
- We’ll provide six examples of how small businesses can benefit. We’ll cover everything from tax-deductible educational dinner seminars to real estate open house “wine-and-cheese” entertaining. You’ll get a whole lot of valuable information when you read the full article.
- We’ll explain the thinking behind the law. IRS Section 274(e)(7) exempts presentation-expenses from classification as “entertainment” when it’s an expense for goods, services, and/or facilities you make available to the general public. The key point is you have to deal with a group of prospects with whom you have no personal relationship. All will be explained when you read the full article.