Article
Business Meals and Entertainment After the Tax Act: No More Fun and 50% Freebies
Article
Business Meals and Entertainment After the Tax Act: No More Fun and 50% Freebies
March 5, 2018
Reprinted with permission from Bloomberg Daily Tax Report. Any opinions in this article are not those of Winston & Strawn or its clients. The opinions in this article are the author’s opinions only.
Winston & Strawn Employee Benefits & Executive Compensation Partner Ruth Wimer analyzes the changes made by the new tax law to the meals and entertainment expense deduction. Ruth says the stricter treatment under the new rules require a taxpayer to address the existential question of ‘‘what is entertainment,’’ and concludes that fun is virtually no longer allowed after 2017, at least as a deductible business expense.