THE TAX CITS AND JOBS ACT: MEAL AND ENTERTAINMENT EXPENSE CHANGES UNDER NEW TAX REFORM

 

Baker Peterson Franklin will be providing a series of articles regarding the tax reform changes.

Entertainment

The Tax Cuts and Job Act (TCJA) eliminates the deduction for entertainment expenses, including activities such as taking a client or a prospect to sporting events, the theater, movies, concerts, and amusement parks. The act also eliminates deductions for expenses incurred for entertainment facilities (for example, a stadium suite or skybox) and for amounts paid for membership in any club organized for business, pleasure, recreation, or social purposes. The deduction for meals purchased during entertainment activities also is eliminated.  More