Q&A: Employee Picnic – Are These Expenses Still Deductible?

Question: Every year we have an employee picnic. We also have a holiday party in December. With the new tax law changes, are these expenses still deductible? Answer: The new tax law eliminated much of the 50% deduction for meals and entertainment expenses related to customers and business prospects. There are some exceptions, though. If your company […]

This months Q_A orcutt financial

Question: Every year we have an employee picnic. We also have a holiday party in December. With the new tax law changes, are these expenses still deductible?

Answer: The new tax law eliminated much of the 50% deduction for meals and entertainment expenses related to customers and business prospects. There are some exceptions, though.

If your company outings or get togethers for employees or the public, those are still going to be deductible. On the other hand, entertaining clients in most cases is not deductible.

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