022 Business Gift or Entertainment Deduction

In this week’s episode 22, I discuss:

Federal Update:

From Florida – Gangs are working to get your tax information to get your Federal and State tax refund before you do

State Update –

California decision on a single member Limited Liability Company that was formed in Nevada but where the owner lived in California.  The California decision determined whether the LLC had nexus in California since the owner lived in California.

Illinois – An update on the sneaker tax.

Minnesota  – Unclaimed Property.  A State Representative can’t determine how to get his unclaimed property back from the Unclaimed Property Division.  Episode 2 and Episode 3 has more information about unclaimed property,

For the in-depth main topic, I discuss business gift tax deduction and entertainment.

The limitations of business tax deduction and entertainment expense, requirements between the two business deductions.

For your business, do you use the gift tax deduction or entertainment deduction more?

Have a tax question or feedback about this episode, send an email to feedback@yourtaxteacher.com.


The link to the IRS publication on Business Gift and Entertainment Deduction is:


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