Tax Cuts And Jobs Act Versus Lunches

Prior To The New Law My Simple Understanding Of Tax Law Was:

Business Lunches With First Tuesday:     50% Deductible

Lunches For My Outstanding Staff For My Convenience:   100% Deductible

New Regulations Effective January 1, 2018 And For My Tax Return Of March 15, 2019:

Business Lunches:   Same

Lunches for my staff:    50% and not deductible at all as of January 1, 2019

Now That Is Just Not Nice

Still Trying To Understand Terms Like: highly compensated employees, ensuring safety of employee on trips between home and office, de minimis fringe benefit, club dues versus facilities, qualified transportation and parking benefits.

Noel Seaman

Noel used to do seminars for Duane Gomer Education, before a way too early heart attack. He used to say that he would have his pay sent to the IRS regional office, and have them forward his share back to him. When he sent his tax return to State or Federal authorities, he would post in large letters that this was his first offer or first draft. Miss him, and I know that anyone who has ever observed him controlling an audience, remembers him fondly.

Say goodnight Gracie.

3 Responses to Tax Cuts And Jobs Act Versus Lunches

  1. Linda Smith February 3, 2018 at 3:28 pm #

    Good night, Chet

  2. Jim Ezell February 3, 2018 at 8:50 pm #

    I was fortunate enough to co write a course on fair housing with Noel. I only taught it at Southland. Decided sales were better when we had to rewrite and submit again. Great smile

    • Duane Gomer February 5, 2018 at 4:42 pm #

      Yes, he was unbelievable, nothing ever bothered him.

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