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Started By
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Anyone hearing that write-offs for entertainment/lunches are done away with?
Posted on 3/23/23 at 6:35 pm
Posted on 3/23/23 at 6:35 pm
Supposedly this is the last year for entertainment write-offs, including meals/lunches.
Is this true? Anyone else hearing this?
Is this true? Anyone else hearing this?
2
Posted on 3/23/23 at 6:39 pm to GREENHEAD22
Entertainment was gone a few years ago.
2022 is the last year of 100% meals deduction for all meals from restaurants. It’s just going back to how it was pre-COVID.
50% for most meals. There’s still some that will be 100%.
2022 is the last year of 100% meals deduction for all meals from restaurants. It’s just going back to how it was pre-COVID.
50% for most meals. There’s still some that will be 100%.
This post was edited on 3/23/23 at 6:40 pm
Posted on 3/23/23 at 6:52 pm to Weagle25
Companies must be putting entertainment under something else. I have a hard time believing they are eating all cost for entertainment.
Posted on 3/23/23 at 6:54 pm to GREENHEAD22
quote:
Companies must be putting entertainment under something else. I have a hard time believing they are eating all cost for entertainment.
Team building things for employees are deductible - think holiday parties and whatnot.
Posted on 3/23/23 at 7:01 pm to slackster
quote:
Team building things for employees are deductible - think holiday parties and whatnot.
Nothing like “team building” in a suite in tiger stadium right?
Posted on 3/23/23 at 7:27 pm to Im4datigers
quote:this is how I remember it. Employee meals (team building) were 100% deductible. Customer meals were only 50% deductible.
Team building things for employees are deductible
Posted on 3/23/23 at 8:20 pm to GREENHEAD22
Yes. They’re meetings now.
Posted on 3/23/23 at 8:23 pm to TigerDeBaiter
quote:
this is how I remember it. Employee meals (team building) were 100% deductible. Customer meals were only 50% deductible.
Yeah the way it used to be. The government passed temp legislation during covid to make it all 100% deductible to entice businesses to use restaurants more (in order to get them back on their feet quicker post covid).
Posted on 3/23/23 at 9:23 pm to GREENHEAD22
quote:
Companies must be putting entertainment under something else.
“Marketing”
Posted on 3/23/23 at 9:33 pm to GREENHEAD22
quote:
Companies must be putting entertainment under something else. I have a hard time believing they are eating all cost for entertainment.
In the grand scheme of things it’s very rarely a material adjustment and companies rarely care what the add back is.
Posted on 3/23/23 at 9:47 pm to Weagle25
I have some vendors that spend serious money but seeing that team building or things for employees are deductible make sense now.
Posted on 3/23/23 at 9:49 pm to Weagle25
And okay what I heard was wrong, was told nothing for customers could be written off.
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