Definitions from the Web
Term: Entertainment Deduction
Description:
An entertainment deduction refers to a type of tax deduction that businesses can claim for expenses incurred while entertaining clients, customers, or employees for business purposes. It allows businesses to deduct a portion of their entertainment-related expenses from their taxable income.
Sample sentences:
- Many companies take advantage of the entertainment deduction by hosting corporate events or dinners.
- Small business owners should keep detailed records of their entertainment expenses to ensure they can claim the deduction accurately.
- Due to changes in tax regulations, the rules surrounding entertainment deductions have become more stringent.
Possible Related Products:
|