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2018 Meals and Entertainment Expenses

2018 Meals and Entertainment Expenses Changes Under the New Tax Cuts and Jobs Act Beginning in 2018, the new Tax Cuts and Jobs Act (TCJA) made stricter limitations on the deductibility of meals and entertainment expenses. Specifically: Entertainment expenses are no longer deductible Deminimis Fringe Benefit expenses will now be limited to 50% deductibility With the elimination of deducting entertainment...

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New Standard Mileage Rates

The IRS issued the 2018 standard mileage rate in December 2017. The rate for using a car, van, pickup truck, or panel truck for business use in 2018 is 54.5 cents per mile, up from 53.4 cents per mile in 2017. For medical or moving purposes, the rate has been raised to 18 cents...

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