EVENT | 2017 EXPENSE | New 2018 EXPENSE |
---|---|---|
Client Business Meals | 50% deductible if taxpayer is present, and not lavish or extravagant | 50% deductible if business is conducted, taxpayer is present, and not lavish or extravagant |
Transportation to/from Restaurant for Client Business Meal | 100% deductible | 100% deductible |
Sporting Event Tickets | 50% Deductible for face value of ticket (anything above face value is non-deductible 50% deductible for skybox expenses to the extent of non-luxury seat ticket face value in such box 100% deductible for charitable sports events Contributions for the right to purchase tickets to an educational institution's athletic events 80% deductible 50% for transportation to/from and parking at sporting events | No Deduction |
Club Memberships | No deduction for club dues; however, 50% deduction for expenses incurred at a club organized for business, pleasure, recreation, or other social purposes if related to an active trade or business. | No Deduction |
Meals Provided for the Convenience of the Employer | 100% deductible provided they are excludible from employees' gross income as de minimis fringe benefits | 50% deductible (nondeductible after 2025) |
Meals Provided to Employees Occasionally and Overtime Employee Meals | 100% deductible provided they are excludible from employees' gross income as de minimis fringe benefits | 50% deductible (nondeductible after 2025) |
Water, Coffee, and Snacks at the Office | 100% deductible provided they are excludible from employees' gross income as de minimis fringe benefits | 50% deductible (nondeductible after 2025) |
Meals in Office During Meetings of Employees, Stockholders, Agents, or Directors | 50% Deductible | 50% Deductible |
Meals During Business Travel | 50% Deductible | 50% Deductible |
Meals at a Seminar or Conference, or at a Business League Event | 50% Deductible | 50% Deductible |
Meals included in Charitable Sports Package | 100% Deductible | 50% Deductible |
Meals Included as Taxable Compensation to Employee or Independent Contractor | 100% Deductible | 100% Deductible |
Meals Expenses Sold to a Client or Customer (or Reimbursed) | 100% Deductible | 100% Deductible |
Food Offered to the Public for Free (e.g., at a Seminar) | 100% Deductible | 100% Deductible |
Office Holiday Party or Picnic | 100% Deductible | 100% Deductible |
The Weaver Company CPA provides income tax, financial and accounting expertise for exclusive clients throughout the United States from our location in Redlands, California. We partner with select owners and decision makers of small to mid-sized business, as well as successful individuals.