deductions

What Businesses Can Deduct for Entertainment, Commuting Benefits, and Meals Under the Tax Cuts and Jobs Act

By Eunice Go After the Tax Cuts and Jobs Act (TCJA), there are various expenses that businesses can no longer deduct starting in tax year 2018. Generally, prior to 2017 Tax Cuts and Jobs Act (TCJA), employers and other taxpayers could deduct ordinary and necessary business expenses. These included cash and noncash compensation, such as fringe benefits, …

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