Taking clients hunting: Give me pointers

[Straight Arrow]

Just don't pull a Dick Cheney on him ... or you'll lose a client!

 

[SAJ-99]

Its exactly how it works.

I thought the TCJA switched entertainment to completely undeductible, regardless of whether or not someone said "how's business"?

 

[Treeshark]

I thought the TCJA switched entertainment to completely undeductible, regardless of whether or not someone said "how's business"?

This is my understanding as well.

I know @Big Fin has commented on this before. Not to solicit free advice, but any clarification would be most appreciated by the peanut gallery!

 

[ignorethefringes]

What should be done and what is actually done are likely different things.

 

[Wild Bill]

To be fair, if you go to a game farm, is it really hunting?

 

[wolfpup]

What should be done and what is actually done are likely different things.

Yes ... by the law, your hunting trip, sporting tickets and those sorts are not deductible and fall under entertainment. The meals that you pay for while at the event (if billed separately) (very important part) are 50% deductible. Alcohol is not deductible.

The company owners themselves need to look at the risk of deducting them as advertising / promotional costs or tucked into whatever makes sense in their line of business they are in to see if they can fly under the radar of getting that line item examined. If you get examined for that line item you will lose that deduction. Whether or not the deduction gets flagged by taxing authorities is a risk that owner will have to make.

 

[rogerthat]

My vote is let’s retitle the thread to “How to have the most fun while cheating the tax man!”

 

[rjthehunter]

To be fair, if you go to a game farm, is it really hunting?

You know SD buys birds from MacFarlane to release on public land, right? No different than going to a game farm. They both buy their birds from MacFarlane.

 

[Forkyfinder]

Are you sure about that? Hunting trips are specifically outlined as non-deductible.

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See where it says "generally"..
. And then exceptions - "recreational expenses for a holiday party or summer picnic"

Idk im not the tax man but i know a lot of folks playing it like this. I dont have a setup or LLC deduct it. I guess you could say the IRS has fair chase with my income for the time being