IRS Updates Guidance on Business Expenses
The most recent IRS Taxpayer Advisory announces proposed regulations affecting taxpayers who pay or incur expenses for meals or entertainment. These proposed regulations generally follow Notice 2018-76 (PDF), issued on October 15, 2018, which provided transitional guidance on the deductibility of expenses for certain businesses.
Your tax advisor at Sharrard, McGee & Co., PA, looks forward to discussing these proposed regulations with you and any other proposed legislation that may impact your business. Call us in High Point at (336) 884-0410 or in Greensboro at (336) 272-9777.
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Sharrard, McGee & Co., PA
1321 Long St, High Point, NC 27262