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J.K. Lasser's Small Business Taxes 2023
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J.K. Lasser's Small Business Taxes 2023

by Barbara Weltman
December 2022
Intermediate to advanced
608 pages
21h 38m
English
Wiley
Content preview from J.K. Lasser's Small Business Taxes 2023

CHAPTER 8Travel, Meals, and Gift Expenses

Technology has enabled small business owners to market their goods and services in a manner similar to that of larger companies and expand beyond the general area in which their office are located. To service these expanding markets, remote meetings via Zoom or otherwise may not be sufficient. You may have to travel to see clients, customers, vendors, suppliers, and others who are part of your business operations. If you do, you may be able to deduct a number of expenses.

Entertainment costs for clients, customers, vendors, and other business associates are not deductible, but wining and dining such people remains deductible as long as certain conditions are met. The ban on deducting entertainment costs does not apply to office‐related events. Also, the cost of business gifts is deductible up to a set limit.

For further information about travel costs, see IRS Publication 463, Travel, ...

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Publisher Resources

ISBN: 9781119931218Purchase Link