What We Know
What We Don’t Know (with certainty, yet)
The CPA community is mixed on whether the elimination of the deduction for entertainment expenses applies to business associate, referral source, client, customer, prospect, etc. business meals. We believe the answer is that these meals are no longer deductible with Tax Reform. The deduction of these types of meals and any related or unrelated entertainment was provided for via IRC Sec 274(a) and the language allowing for those deductions has been removed.
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