Posts by Meredith Kowal
Influencer Marketing Has Taken Over: What is it and How Will Your Business Benefit?
At a glance Not a passing trend: Influencer marketing is hot. In fact, more companies are adding some form of it into their marketing strategies. Driving engagement makes a big impact: Influencers connect with their followers in a more personalized way, which can set trends and start conversations that ultimately drive sales. Be smart about your partners: The…
Read MoreCongress Makes Business Meals Temporarily 100% Deductible
When Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017, it significantly limited the tax benefits available to companies by eliminating the deduction for entertainment expenses and reducing the deductible amount for certain types of meals (M&E). Currently, business meals are generally only 50% deductible and entertainment expenses are fully disallowed for tax…
Read MoreNew Clarity on M&E Deductions Give a Little Wiggle Room
On September 29, 2020, the IRS published the long-awaited final regulations on the deductions for meals and entertainment (“M&E”) expenses. While the final regulations are largely similar to those proposed earlier this year, there are some key changes and clarifications that could impact your company’s bottom line if you have historically taken advantage of M&E…
Read MoreRecent Guidance on Meals & Entertainment Expenses May Impact Your Bottom Line
One of the most notable changes to come out of the new tax law passed in 2017 was the significant limitations placed on tax breaks related to meal and entertainment (M&E) expenses; however, the IRS was slow to issue any further guidance or proposed rules. In fact, the first guidance from the IRS on changes…
Read MoreShould Entertainment Expenses Be Fully Disallowed?
Although companies are no longer eligible to deduct business entertainment expenses like baseball tickets and golf outings, Notice 2018-76 was released and provides guidance that allows companies to partially deduct the meals incurred at entertainment events. It used to be ok to lump together things like games and dinners as “meals and entertainment” expenses because…
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