There are really two types of home entertainment. One is for a small number of guests, say 12 or less. The key here, as always, is to follow the “terms and conditions” the IRS has for entertainment. Those terms are to have a meeting place that is conducive to having a business meeting and your house surely meets that criteria. Next is to document the following: Who was there, when the entertainment took place, where the meeting took place and what did it cost.
With a small group it will be easy to stop and talk business with everyone there. If you are buying food for the dinner be sure to keep a separate receipt from the stores that is just for party items. Take a few pictures.
Bill Zumwalt
Helping REALTORS with Tax Solutions and Solving Tax Problems for REALTORS
REALTOR Tax Preparation, REALTOR Tax Accountant, Tax Preparation Tulsa, OK
Accountant Tulsa, OK, CPA Tulsa, OK, Tax Prep Tulsa, OK, Tax Savings Tulsa, OK, Tax Accountant Tulsa, OK
The Tax Coach for REALTORS
William T Zumwalt CPA,CTC, PLLC
5416 South Yale Ave
Suite 120
Tulsa, OK 74135
918-583-1040
855-993-3339
Bill@TeamZumwalt.com
www.TeamZumwalt.com
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