CPA Voice: What counts as deductible when it comes to entertainment and meals

Written on Jun 14, 2018

The Tax Cuts and Jobs Act meant many CPAs had to reconsider the status of meals in a business context.

“Congress moved in the Act to deny any business deduction for entertainment. And the Conference Committee Report allowed that meals ‘associated with operating’ a trade or business remain deductible,” writes Edward K. Zollars, CPA, in the May/June issue of CPA Voice.

But, as Zollars writes, the Committee Report cited one example where the meal is still related to travel, a class no one would have doubted was an allowed expense.

“That leaves open the far less easy to resolve question regarding what other meals remain deductible,” Zollars writes.

Read the article online now to learn the details of what counts as deductible and what is still to be decided.

Don’t miss this convenient, self-study CPE

Did you know that reading CPA Voice can help you satisfy your CPE requirement? No matter your location or the time of day – and even without the benefit of electricity – you can gain CPE credit with each issue.

Every edition includes a 12-question self-assessment exam covering content from that issue. Receive a grade of 75% or higher and you’ll earn one hour of CPE credit in specialized knowledge.

Best of all, you can take the exam when and where it’s convenient for you, either online or by mail. Exams remain available online – and may be completed for CPE – through the same month of the following year.

May/June 2018 exam

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