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Under United States tax law, certain performing artists are eligible to deduct the expenses incurred in the course of their employment as performing artists ("performing artist expenses"). The deduction itself is provided by IRC § 62(a)(2)(B), [1] while qualifications of a Qualified Performing Artist ("QPA") are provided by IRC § 62(b). [2]
After the tax reform in 2017, entertainment expenses for business purposes were no longer deductible, and meal deductions were limited to 50%. That remains true for business entertaining you did ...
K-12 educators can deduct up to $300 ($600 if married filing jointly and both spouses are eligible educators, but not more than $300 each) of unreimbursed trade or business expenses.
Meals, entertainment, and travel expenses might be tax deductible for small business owners and some employees. Let's start with small business owners. If you spend money on meals, entertainment ...
It concerns deductions for business expenses. It is one of the most important provisions in the Code, because it is the most widely used authority for deductions. [1] If an expense is not deductible, then Congress considers the cost to be a consumption expense. Section 162(a) requires six different elements in order to claim a deduction.
Provision of tax-free qualified transportation fringe benefits to employees on or after January 1, 2018 is not tax-deductible to the employer as an ordinary business expense. [18] Per the Tax Cuts and Jobs Act of 2017, Tax-exempt employers must report tax-free qualified transportation fringe benefits provided to employees on or after January 1 ...
22. Employee meals and entertainment This is a common business expense category, but note that only up to 50% of the cost of business meals and entertainment expenses can be deducted. 23 ...
There are dozens of self-employment tax deductions, including advertising, retirement contributions, health insurance, self-employment tax deduction, travel expenses, business insurance, car ...
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