Does the Tax Cuts and Jobs Act (TCJA) help you save money on your business deductions?
Many businesses were frustrated by changes in allowed dining and entertainment deductions. Did you know there are proposed regulations addressing that elimination of deductions for entertainment, amusement or recreation activities related expenditures? New guidance will be offered to determine whether an activity is considered to be entertainment. The proposed regulations also address the limitation on the deduction of food and beverage expenses.
Need help navigating the changes? visit businesstaxprep.com to be connected to a certified accountant who can give you the answers you need.