Salesman - NY Knick tickets I gifted my client deductible?
Answer:
Sporting event tickets are considered an entertainment expense, if you accompany them. The deduction for a business gift is limited to $25 per person per year.
Generally, the amount allowable as a deduction for meals and entertainment expenses is limited to 50% of such expenses.
Generally, the amount allowable as a deduction for meals and entertainment expenses is limited to 50% of such expenses.
