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When Can You Deduct Business Meals and Entertainment?

RogerRossmeisl

Youre not alone if youre confused about the federal tax treatment of business-related meal and entertainment expenses. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses. The post When Can You Deduct Business Meals and Entertainment? Food and beverage costs.

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IRS Tax Deductibility of Wardrobe Purchases for Entertainers

Withum

The IRS has specific guidelines regarding the deductibility of wardrobe purchases for entertainers. Understanding these rules is crucial for entertainers who want to maximize their tax deductions while staying compliant with tax laws. This includes items like branded uniforms for a specific show.

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Sales tax and streaming services

TaxConnex

Colorado added “digital goods” to the statutory definition of taxable “tangible personal property” a few years ago (regardless of the goods’ delivery method), and Netflix just lost a drawn-out appeal in that state, claiming that its entertainment couldn’t be taxed because it couldn’t be physically touched.

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Backstage with Donna Branston: CPABC Podcast Feature

DMCL

DMCL is thrilled to share that Donna Branston , our Entertainment Accounting and Business Management Partner, was recently featured in CPABC’s Backstage Pass , a podcast exploring the unique stories of CPAs working in entertainment.

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Optimism declines among accountants

Accounting Today

On the other hand, farming (6%), franchising (3%), and arts and entertainment (2%) are seen as the most vulnerable sectors. And the oil, energy and mining sectors show 39% of respondents optimistic due to recent spikes in supply and demand for these resources.

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Japanese Restaurant Owner Avoids Raw Tax Deal

CPA Practice

Cohan claimed deductions for various travel and entertainment expenses, but said he was too busy with his hectic career to take the time to document all the expenses. Basic premise: The plaintiff in the landmark federal court decision was none other than legendary vaudeville and Broadway star George M.

Tax 105
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M&A roundup: Plante Moran, Sax and GHJ expand

Accounting Today

a firm that specializes in profit participation and entertainment accounting and is also based in Los Angeles. Hacker Douglas dates back to 1970 and has handled motion picture and television audits, merchandising, publishing and estate valuation, and expert witness and litigation support services for the entertainment industry.