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).
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]
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