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IRS issues guidance on changes to business expense deductions for meals and entertainment

On October 3, The Internal Revenue Service issued guidance on the business deduction for meals and entertainment following changes in the Tax Cuts and Jobs Act (TCJA).

While the act allows a deduction for expenses incurred during the tax year in carrying on trade or business, in 2017, the deduction of expenses related to entertainment, amusement or recreation was eliminated. However, the act does little to explain the tax treatment of business meals and there has been virtually no guidance from the IRS since the enactment of the TJCA until now. 

Strauss Troy Hosts Two CLE Seminars on October 18

For more information or to register, please contact Terry L. Reddington at  513.629.9469 or  TLReddington@strausstroy.com As part of our Professional Development Series, Strauss Troy will present TWO in-house seminars on Thursday, October 18, beginning at 8:45 a.m. for registration (Breakfast will be served), with the first program beginning at 9 a.m. You are welcome to …Read More