Want to throw a party for your employees? Go ahead and have a ball, but be sure you use the right deduction category!
HINT: Don’t deduct your party as regular “business entertainment.” Instead, learn how the tax law gives you a 100% deduction for your employee party and other employee entertainment.
My advice? Before you break out the champagne, read my new article titled Tax Tips: Best Tax Deduction for Employee Party.
Three ways our fact-filled article can help you:
- We’ll explain the ins and outs of entertainment tax deductions. Does your business chart of accounts contain two different accounts for entertainment? It probably should. You see, there are TWO types of entertainment tax deductions and the IRS expects you to know the difference. You’ll get the whole story when you read the full article.
- You’ll learn how to get a 100% deduction on your employee parties. You read that right! The IRS lets you write off 100% of certain parties and other events. What are they? You’ll find out when you read the full article.
- We’ll tell you if your guests are “tainted.” The IRS requires that the entertainment expenses be “primarily” for the benefit of employees other than a “tainted group.” Who is labeled “tainted” by the IRS? We’ll spell it out when you read the full article.