For summer tax planning, this article is the first of ten tips for reducing taxes. When entertaining clients, you may be eligible to write off 50% of the cost of business meals and entertainment.
Tip 1: Entertaining Business Clients
If you entertain clients before or after a substantial business discussion, you may be eligible to write off 50% of the cost of business meals and entertainment. An example, after you conclude a business deal, you might treat a client to a round of golf, dinner, and drinks. The 50% limit applies to all the qualified expenses, including amounts you pay for the client, yourself, and significant others.