MEALS & ENTERTAINMENT
Business Entertainment Tax Deduction
Building relationships with your employees, contractors, vendors, advisors, competitors, etc. is key to being a successful entrepreneur. Often times, entertaining the aforementioned parties can help you win business, expand your network and show your appreciation for those you work with. The IRS considers entertainment costs as an ordinary and necessary part of doing business. Accordingly, your qualifying entertainment expenses may be 50% or in some cases 100% deductible.