Category Archives: Meals and Entertainment

Studying the Competition

Today TaxMama® hears from LiveMusic, with this interesting question. “I have expenses related to “studying the competition” so as to (hopefully) improve my own business profits. How would I categorize that?” 

Meals Deduction Barely Covers Price of Coffee

If you think American tax laws are tough on meals and entertainment, read this story recently reported by Chelm on the Web. The Israel Tax Authority finally updated the amount that the independently employed can put down on their tax returns as expenditures for wining and dining a business associate. It took a High Court […]

Tax Deductions for Scuba Diving

  Article reprinted with the permission of W. Murray Bradford, CPA   QUESTION:  I sell property and casualty insurance in Florida. I also like to scuba dive. I would like your opinion on whether or not the following is deductible. I  spent five hours with a prospect. First we went on a dive, then we […]

Coaching Expenses

Today TaxMama hears from Mimi in the TaxQuips Forum who tells us. “My husband coaches my son’s Little League and travel basketball team.  Occasionally, he buys equipment for the team’s use and hosts an after-season party, complete with pizza, cake and beverage.  Some of these expenses are not reimbursed by the league.  Are these deductible?  How about […]

Mystery Shoppers

Today TaxMama  hears from Brad in Missouri, in the TaxQuips Forum. Brad tells us “ I’m an independent contractor for several mystery shopping companies. Today for example I did a casino shop. I get reimbursed for 1 meal expense up to $10 and paid $35 for the shop itself, but they legally can’t reimburse my […]

Not Your Meals

Today TaxMama hears from Megan who is appalled, “I heard that when deducting expenses for a business lunch (say, you and a client went out for lunch to talk shop), you are only allowed to deduct 50% of the price of the meal. That is, only their portion of the bill as a legitimate tax […]

Fifth Wheel

Today TaxMama hears from Brad in North Carolina, who says, “I am an independent contractor in both the telecommunications and catastrophic insurance claims industry. Which means I travel across the country on short-term assignments of less than a year, anywhere in the US. I am a permanent resident of the State of North Carolina and […]