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Business entertainment tax deductions are gone: What you need to know

Source: sbnonline.com - Dec 14, 2018

Before the federal tax overhaul, business meals and entertainment were generally deducted at 50 percent. Now, meals remain generally 50 percent deductible. Entertainment does not.

The changes are only to select expenses, but some companies were taking large deductions to entertain clients, which could impact their taxable income.

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Category: General Business