Skip to Content

Tax reform restricts tax deductions for meals, entertainment, and fringe benefits

February 13, 2018 Article 1 min read
Authors:
Michael Monaghan Emily Murphy
Recent tax law changes may compel taxpayers to make immediate changes to expense tracking procedures to ensure they are capturing information necessary to accurately determine their tax deductions.

Image of pen on W-9 Form

Recent tax law changes may compel taxpayers to make immediate changes to expense tracking procedures to ensure they are capturing information necessary to accurately determine their tax deductions. The Tax Cuts and Jobs Act (TCJA) made several significant changes to deductions for meals, entertainment, and employee fringe benefits. In general, the changes disallow deductions for entertainment, reduce the benefit to 50 percent for most meal expense deductions, and limit the deductibility of employee fringe benefits. These changes are effective for amounts incurred or paid after Dec. 31, 2017.

The information provided in this alert is only a general summary and is being distributed with the understanding that Plante & Moran, PLLC, is not rendering legal, tax, accounting, or other professional advice, position, or opinions on specific facts or matters and, accordingly, assumes no liability whatsoever in connection with its use

Related Thinking

U.S. Capitol building in the evening.
December 8, 2022

Capitalizing Section 174 research & experimental (R&E) expenses

Webinar 60 min watch
Lobby of office building.
December 8, 2022

International tax news and other global updates for Q4 2022

Article 13 min read
Business professionals meeting in a conference room.
Nov. 29-Dec. 7, 2022

2022 Year-End Webinar Series

Webinar