Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com.
Dr. Friday 0:12
Last year there was a lot of confusion about small business owners, deducting meals and entertainment. The question basically comes to, can they or can they not? The rules really haven’t changed. I know a lot of people got very frustrated because at one point they were trying to remove it, but it was really more about employee reimbursement plans than it was small business owners. If the meal or entertainment is tied to generating income in the running of your business, it is still a legitimate trackable expense. Don’t leave money on the table. Make sure you understand your tax laws to make sure you’re putting more money in your pocket. Call me.
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