#Tax

The Internal Revenue Service recently issued guidance (Notice 2018-76) on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation. At that time, it wasn't clear if meals were also eliminated as a deductible business expense. Under this new IRS guidance, taxpayers may continue

#Newsletter #TaxPlanning