6 Tax Reduction Strategies that Still Work After Tax Reform - Philadelphia CPA
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6 Tax Reduction Strategies that Still Work After Tax Reform

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.

  1. Rent your home to your corporation
  2. Take employees on an employee party trip
  3. Go ahead and party with your employees
  4. Make your vacation homes a deductible entertainment facility
  5. Create an employee-entertainment facility
  6. Deduct the entertainment facility by making facility use compensation to users

For further information, please contact me…….Mark S.Fineberg, CPA