Understanding New Rules Regarding Business Entertainment Deductions

February 2018 If you own a business or work in a business, chance are that at some point, you’ve engaged in business-related entertainment of some sort. If so, you’ve probably reported those entertainment expenses as deductible on your taxes. While the recently passed Tax Cuts and Jobs Act of 2017 (the Act) has far-reaching impacts in many areas of tax law, one of those areas is business-related entertainment expenses. The reality is, the rules around entertainment expenses have changed—and if you or your business engages in business entertaining of any kind, it’s important you take note. View the full article here.