Business Expenses Part 5-Entertainment
Monday, November 16th, 2009 
Photo by: gregoirevdb
For the last part of my five part series, I am going to be talking about tax deductible entertainment expenses and the rules you must follow. This for the person who really pays for the expense, either you or your employer if they reimburse you. There is a limit that applies to meal and entertainment in this category and it is where you are only allowed to deduct 50% of the expenses you incur. There are also two classifications of these expenses. There are the ones which are directly related to business and which are covered. Then there are the expenses which are associated with business and these expenses must serve a specific business purpose to be deductible. That could be obtaining new business or continuing existing business. These expenses can get very complicated so I suggest that you speak with a CPA if you wish to get very in depth. Good luck with deducting some of your business expenses and I hope it can help you to save a little money on your taxes.
