Abstract
Look, we play the Star Spangled Banner before every game. You want us to pay income taxes, too?
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- 1.
Section 274(n) of the Tax Code limits the deduction for meals and entertainment to 50% of the actual expense.
- 2.
Alternatively, you can use a different proration method if you apply it consistently and it is in accordance with reasonable business practice.
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© 2013 Russell Fox
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Fox, R. (2013). Meals and Entertainment. In: Tax Strategies for the Small Business Owner. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4302-4843-9_9
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DOI: https://doi.org/10.1007/978-1-4302-4843-9_9
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