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 Employee:
- Dictionary purposes, an employee is an individual who is subject to the will and control of the employer not only as to what shall be done but also as to how it shall be done. An employee is to be distinguished entertainment expenses.
- Definition Exclusion:
- Dictionary that is not included in gross income because the Tax Code excludes it. Examples, include gain from a qualified sale of a principal residence, income earned abroad, and gifts and inheritances entertainment expenses.
- Definition Earned Income Credit:
- Dictionary credit for qualified taxpayers based on earned income, adjusted gross income, and the number of qualifying children. See our Earned Income Tax Credit rate table for the current income limits entertainment expenses.
- Definition Employer-Funded Retirement Plan:
- Dictionary A retirement plan funded in full or in part by employer contributions on behalf of employees entertainment expenses.
How works Entertainment Expenses meaning in Tah definition E .