Bradley Partner Bruce Ely Quoted in Bloomberg Tax on New IRS Guidance
February, 2020 - United States of America
Bradley attorney Bruce Ely was quoted in Bloomberg Tax on new guidance proposed by the Internal Revenue Service (IRS). The rules explain that business meals at sports or entertainment venues are still eligible for a 50% tax deduction if receipts documenting the separate costs between events and food are provided.
That gives attorneys assurance that clients will still receive a write-off for meals that occur during a fancy event, said Ely.
But if that itemization isn’t crystal clear, “there is still the trap for the unwary. That’s where a revenue agent can become very anal retentive,” Ely said.
The original article, “Deductions Back on the Menu for Ballgame, Entertainment Meals,” first appeared in Bloomberg Tax on February 25, 2020.
