Discussion:Meals and entertainment-events
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Discussion Forum Index --> Basic Tax Questions --> Meals and entertainment-events
Discussion Forum Index --> Tax Questions --> Meals and entertainment-events
| 21 November 2007 | |
| If I take a client to a football game his ticket is deductable as M&E but is mine? same question if I take client to dinner is my meal deductable.
Next questions: If I have to fly from Ohio to Atlanta, Ga on business but only spend the business day there and not overnight are all the travel expenses (transportation, meals) still deductable. The IRS Pub indicate you have to spend overnight but I cannot believe all these corporations that send their sales people on day trrips donot dedcut it Thansk | |
| 21 November 2007 | |
| The nature of the M&E deductible expenses includes both you and your client. Mind that to be deductible, it has to meet the requirements of being business related.
For day travel, meals are not deductible (unless they fall under the business related umbrella), but the other travel costs are. If you have to stay overnight, you could deduct a per diem percentage for the city or your actual meals. | |
Donniecastleman (talk|edits) said: | 21 November 2007 |
| Total football game, with substantiation of course, is deductible as Entertainment. You have to have overnight stay to deduct meals (average $39 a day) unless it's a business luncheon with a client, possible client, or business associate, and please keep your meal receipts as evidence just in case. Hell, everything Wayne said is totally correct, why did I even post? Maybe I'm lonely, I mean homely. :( | |
| 21 November 2007 | |
| You don't look so bad. Mr. Lee on the other hand...
Counting down the hours until the feast... | |
| 21 November 2007 | |
| so my ticket is also deductable if we do business of course? I thought I read somewhere only the client's cost to the entertainment was deductable such a broadway play etc.????? | |
Donniecastleman (talk|edits) said: | 21 November 2007 |
| Well, in order for the business venture to be conducted you had to buy a ticket too, so I'd say deduct everything as an entertainment expense, then the 50% limitation sets in like rigor mortis, hey old tax guys and gals remember when M&E was 80% deductible back in the good ol' days? | |
| 21 November 2007 | |
| Well Neil; you have it somewhat right...your client's is 100% deductible because you paid for (2) tickets and you can only claim 50%. So if you paid 78.00 for two, you only get the deduction for 1/2 that...your client's ticket... | |
