No More Deducting of Entertainment Expenses for Businesses

The recently passed tax bill brings many changes. One noteworthy change for businesses is the elimination of the ability to deduct entertainment expenses. According to a recent article titled “How tax overhaul would change business taxes” from the Journal of Accountancy®:

Entertainment expenses: The bill would disallow a deduction with respect to (1) an activity generally considered to be entertainment, amusement, or recreation; (2) membership dues with respect to any club organized for business, pleasure, recreation, or other social purposes; or (3) a facility or portion thereof used in connection with any of the above items.”

Credit to:

How tax overhaul would change business taxes
By Alistair M. Nevius, Journal of Accountancy, December 18, 2017