What ENTERTAINMENT EXPENSES means: Such expenses are deductible by employees and self-employed taxpayers only if the expenses are directly related to or associated with a trade, business, or profession. To prevent abuses, strict substantiation requirements must be satisfied in order to deduct entertainment expenses. The deduction for qualified business entertainment is generally limited to 50 percent of cost.
- Definition Expensing:
- Dictionary when a taxpayer claims the section 179 expense deduction, defined elsewhere in this glossary, or currently deducts certain other expenditures that would ordinarily be required to be capitalized entertainment expenses definition.
- Definition Energy Tax Credit--Residential Property:
- Dictionary able to take a credit equal to the sum of: (1) 10% of the amount paid in 2006 for qualified energy efficiency improvements (for example, insulation, exterior windows, and exterior doors) installed entertainment expenses explain.
- Definition Excluded Gain:
- Dictionary gain realized on a sale that will never be taxed. The most common situtation in which this occurs is for qualifying sales of principal residences. Other gains that may be excluded in whole or in part entertainment expenses what is.
- Definition Expenses Of Sale:
- Dictionary When paid by the seller, these expenses reduce the sale price of property. Examples are commissions to a broker or real estate agent, title search, title insurance, legal fees, and transfer taxes entertainment expenses meaning.
How works Entertainment Expenses meaning in Tax definitions E .
