Mitch explains that entertainment expenses like client outings to sporting events and ski trips are no longer tax deductible under recent tax reform. The IRS eliminated these write-offs, but Insight can help you find workarounds and navigate the new rules.
Hey, what's up guys? This is Mitch. Today we're going to be talking about the meals and entertainment expense. Now there were some big changes here with tax reform, so we want to give you this information now so that you can plan ahead and get some great tax savings. Now starting with entertainment, you used to be able to go out and do really fun things with clients, potential clients, employees, things like football games, going skiing, you know, fun things like that. Well, that's actually no longer the case. That's no longer a valid business expense, and that really sucks because the IRS, well, they just suck. And here at Insight, since we are such tax geniuses, we have ways of getting around that. So if you guys have any questions, be sure and reach out to us. I hope this was helpful to you guys, and that's it for now. Thanks.
