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.”
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