Business Meal Scene

New Tax Law – Are “Meals” and “Entertainment” Still Deductible?

In the tax reform bill Congress approved last December, entertainment, amusement, or recreation or any expenses with respect to such a facility do not qualify for a tax deduction. Where does this leave “meals”? I have received many questions asking if meals are still deductible. Companies’ Holiday Parties: 100% Deductible Employee Only / Holiday Parties…

CPA & CFO working together for tax savings for a business

CFOs & CPAs Work in Synergy to Optimize Tax Strategies and Savings

Maximizing tax savings for a company and its owner requires teamwork between both its CFO and CPA, each contributing different perspectives, skills, and functions. However, many business owners believe that they do not need a Chief Financial Officer (CFO) when they have a tax CPA. There is good reason for this confusion as some CFOs…