28 Aug 6 Tax Reduction Strategies that Still Work After Tax Reform
Tax reform wiped out 50% business-entertainment deductions–this means you can no longer write-off “directly related or associated” business-entertainment expenses. Therefore, wave good-bye to deductible concerts, ballgames, and such with clients and prospects.
Now for the good news! Here’s 6 strategies that work after tax reform.
- Rent your home to your corporation
- Take employees on an employee party trip
- Go ahead and party with your employees
- Make your vacation homes a deductible entertainment facility
- Create an employee-entertainment facility
- Deduct the entertainment facility by making facility use compensation to users
For further information, please contact me…….Mark S.Fineberg, CPA