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Entertainment Expenses |
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Entertainment Expenses Such expenses are deductible by employees and self-employed taxpayers only if the expenses are directly related to or associated with a trade, business, or profession. To prevent abuses, strict substantiation requirements must be satisfied in order to deduct entertainment expenses. The deduction for qualified business entertainment is generally limited to 50 percent of cost. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Set realistic goals - don't put down $10 for entertainment expenses if you know you are going to spend more than that. Details of entertainment expenses and corporate hospitality released to the Guardian under the Freedom of Information Act also show that five of the corporation's most senior executives spent a total of £4,324. The Canadian government also allows as a deduction, fifty percent of your business related entertainment expenses. |
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