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Summer Tax Tip #3 – Throw a Company Picnic

picnic 5 300x133 - Summer Tax Tip #3 - Throw a Company Picnic

You can generally deduct the cost of a picnic, barbecue or similar get-together. Not only will these events provide your workers with a break from the daily grind, but the 50% limit on meals and entertainment expense deductions also doesn’t apply. There is one caveat: The entire staff must be invited to qualify for the 100% deduction. Otherwise, expenses are deductible under the regular business entertainment rules.