[Professional]

I just met my business CPA today. I run a S corp with one junior partner. We do consulting work and make 2-300k per year in income. CPA told us that our taxes would fall based on our 16 tax returns, by 35%

Best news he told me, is that entertainment deduction is going to ZERO.

Tell me, what will that do to NFL and NBA season ticket sales that are predominantly bought by corporations!!!

Winnninnnnngnnggggg!!!!!!!!!!!!!!!!

[blam]

"Best news he told me, is that entertainment deduction is going to ZERO."

Wonderful news.

Boycott the un-American NFL!

[SaveFerris]

[Best news he told me, is that entertainment deduction is going to ZERO.

Tell me, what will that do to NFL and NBA season ticket sales that are predominantly bought by corporations!!!]

Gosh, I’m gonna need more popcorn.

[Sequoyah101]

This is my only regret in winding down my company.

i did not have to retire but I did need a change of scene. The new scene does not include as much of the work opportunities even with the computer and all. Presence is required for some things.

[july4thfreedomfoundation]

What is the new “pass-through” rate for S corporations?

I’ve heard 30%, and I’ve heard 20%.

Do you know which one is accurate?

[Freee-dame]

Best news he told me, is that entertainment deduction is going to ZERO

If this is true, it is the best news about “fairness” ever. It is infuriating to see politicians at every level spendingtime In skyboxes, etc, while the people whose taxes paid for a stadium cannot even afford ticket to go to the game.

Suoer expensive restaurants will take a hit as well.

Next should be tax exempt organizations. People will still donate to true charities.

[Presbyterian Reporter]

“””Best news he told me, is that entertainment deduction is going to ZERO.”””

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Thanks. I was not aware of this change. For others who are interested here is a Fortune report-—

http://fortune.com/2018/01/13/tax-bill-recreation-deductions/

Taking Clients to Ballgames Will Cost You More Under New Tax Laws