Amended Code Section 274: Meals and Entertainment Deductions

For generations business people were allowed to deduct expenses associated with entertaining current or prospective clients, customers and patients. Over time Congress whittled away the scope of the deduction for such expenses, but the Tax Cuts and Jobs Act (TCJA) put a wooden stake right through its heart. With the tax year rapidly coming to a close, now is the time to learn exactly what is deductible.

Daniel will teach you all the insider tips, tricks and secrets on Meals and Entertainment deductions. There is plenty of confusion out there over the extent to which entertainment and expenses can be deducted, says tax pro Daniel, as he walks you through the current state of deductible expenses in detailed in this booklet. Daniel will show you what can be counted, what is out, and what to keep track of as the Internal Revenue Service issues late-year clarifications to Section 274. (e-Book size: 8 x 11 format 17 pages).

There seems to be confusion over the extent to which entertainment expenses are allowed. Let Daniel clear that up. In a simple sentence, there is no longer any deduction allowed for “entertainment” expenses.

Learn about amendments to code 274(a)1, what the Jobs Act did and did not do to meals and entertainment expenses, and how to keep proper records of meals. Pilla also takes you down into the weeds of the law to explain the difference between “meals” and “entertainment,” how to reconstruct lost or incomplete records, and what the Oct. 3 update from the IRS taught us. Meals and entertainment deductions can really add up—make sure you are deducting every penny you can.

What the New Law Did and Didn’t Do

• Understand the amendment to code Section 274(a)(1)
• What the Tax Cuts and Jobs Act did, and did NOT do to meals and entertainment expenses
• The difference between “meals” and “entertainment” under the law
• How to keep proper records of meals
• How to reconstruct lost records or incomplete records
• Analysis of §274 in light of the Tax Cuts and Jobs Act
• Legal authority for deduction of meals apart from §274
• Records requirements under §274(d)
• Do Meals Always Constitute Entertainment?
• And more.

Daniel J. Pilla has been the nation's leader in taxpayers' rights defense and IRS abuse prevention and cure. Dan has seen every type of tax problem and believes "there is no such thing as a hopeless tax problem." Widely regarded as one of the country's premiere experts in IRS procedures, he has helped countless thousands of citizens solve personal and business tax problems they thought might never be solved.

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