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In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one party will be subject to a 50 percent limitation on the deduction. But which party? Last year, the IRS finalized regulations that address this question.
In the employer-employee setting:
In a customer–independent contractor setting, the final regulations allow the parties to agree as to who will be subject to the 50 percent limit. If there isn’t an agreement, then:
The rules surrounding meal and entertainment expense deductions are complex. Contact our tax advisors in Michigan, Houston and Ft. Lauderdale to ensure you’re making the most of the deductions available to you but not putting yourself at risk for back taxes, interest and penalties.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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