AboutAlexandra Shainskaya, CPA Expertise Can answer questions relating to individual and small business tax returns and tax planning.
Experience I am the founder and President of Tax & Business Advisory Services LLC, a boutique accounting firm that specializes in tax planning and preparation for individuals and small businesses.
Education/Credentials New York University Stern School of Business, 2005
Accounting and Finance
Question What is the requirement to write off a company dinner or meeting?
Answer Dear Steve,
Generally, expenses for meals and entertainment where business is discussed are 50% deductible. For each such meal, you must record the following in your records: the date, the amount, the place, the business purpose, and the business relationship of the attendees.
The exception is if you are providing the meal as part of a company recreational or social activity (e.g. a picnic for the employees) or if you are providing the meal on your business premises for your convenience (i.e. so that the employees can work through lunch). In those cases the meal is 100% deductible.
I hope this helps, and please let me know if you have any further questions.
Best regards,
Alexandra Shainskaya, CPA
Tax & Business Advisory Services LLC
www.TaxBusinessAdvisory.com
