The IRS issued a clarification on the new meals and entertainment deduction under the Tax Cuts and Jobs Act (TCJA). Meals, including those provided with entertainment, are still deductible. The entertainment portion will NOT be deductible. I still don’t believe we have heard the end of this. This is something that has the potential to really hurt the revenue sources of institutions of higher education and many small businesses. The Foster & Dolleck, CPA’s team always has your best interest in mind and will keep you updated as new guidance or clarifications come out.

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