How will I be able to deduct more business entertainment expenses?
Loophole: Many business entertainment expenses are fully deductible — not limited to a 50% deduction. These include: • Meal and entertainment expenses reimbursed to the person who initially paid them. • Employee recreational expenses. • Services and facilities the company makes available to the general public. • Food and beverage expenses not taxable to employees under the “de minimis” fringe benefit rules (meaning employers can give insignificant benefits to employees tax free). • Employer-provided meals on company premises for the convenience of the employer. • Expenses included in a package with a ticket for certain charitable sporting events. • Food and beverage costs for crews of certain drillng rigs and commercial ships.
