Tax Planning For Businesses – What You Need To Know About Business Meals, Business Travel, And Advertising And Marketing Costs
Under prior law, a taxpayer generally can deduct business-related meal and entertainment expenses paid or incurred in entertaining a client, customer, or employee. The taxpayer had to show that the item was directly related to (or, in certain cases, associated with) the active conduct of the taxpayer’s trade or business. In such case, a deduction […]