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The Party is Over: New Tax Bill Slashes Entertainment Expenses


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3/27/2018
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Under the 2018 Tax Cuts & Jobs Act (“TCJA”), entertainment expenses are no longer deductible. Write-offs for business-related meals are still fair game, but the TCJA zeroes in on the more “pleasurable” side of the meals & entertainment equation.

As one commentator said, “The Government Giveth & the Government Taketh Away.”

Entertainment-related employee benefits and perks are also on the chopping block, except for company-wide events (like company-related holiday parties or an escape room team-building outing).

You can no longer write-off your season Jets tickets (ummm… why do you have these?) as a business expense. And what about that golf outing? Fuggettt Aboutittttt!!!

If you have questions about meals & entertainment expenses or winning your meals & entertainment audit or your treatment under the new Tax Cut & Jobs Act, give us a call at (201) 529-8024 or e-mail me at [email protected]m

 
 


Category: Tax Law


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