Byline: Mark Suchecki
Entertainment expenses are broadly defined and include not only meals, but the cost of entertaining at home, country clubs, athletic clubs and sporting events, or hunting and fishing trips, according to the Albany accounting firm of Urbach Kahn & Werlin.
Unless specifically excepted, entertainment expenses are deductible only if the expense is "directly related" or "associated with" the active conduct of the taxpayer's trade or business, including investment and tax-related activities, according to a pamphlet prepared by Urbach Kahn & Werlin on travel and entertainment expenses under the new tax law.
Dramatic changes in …
No comments:
Post a Comment