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Entertainment Expense Deductions

Tax and Financial News

July 1999

Entertainment Expense Deductions

Understanding the definition of a qualified business expense is the key to getting Uncle Sam to help you pay part of the bill. The current tax law states 50 percent of the amount that you spend to entertain your clients, customers or an employee is deductible. This amount would include tips and taxes. You can go to the theater, a nightclub, a ball game, play golf or visit your country club for a round of tennis. In order for an entertainment expense to qualify for a tax deduction, it has to be:

1) Associated with business. The entertainment
must take place directly before or after
a business discussion.

2) Ordinary and necessary to your business.

3) Directly related to the business which
means the business must actually be
discussed during the entertainment.


Remember that deductions are limited to the face value of a ticket. Ticket brokers and scalpers won't count so get your tickets early to qualify for current entertainment deductions.
 

These articles are intended to provide general resources for the tax and accounting needs of small businesses and individuals. Service2Client LLC is the author, but is not engaged in rendering specific legal, accounting, financial or professional advice. Service2Client LLC makes no representation that the recommendations of Service2Client LLC will achieve any result. The NSAD has not reviewed any of the Service2Client LLC content. Readers are encouraged to contact their CPA regarding the topics in these articles.

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