how are sports tickets treated tax-wise for a corporation?
Posted on November 20, 2008 by admin
forgejohn asked:
if I take a client and both our wives.. are the wives tickets dedcutable as a business expense?
what if it is just my son and myself?
how should my company treat each scenario tax-wise?
if I take a client and both our wives.. are the wives tickets dedcutable as a business expense?
what if it is just my son and myself?
how should my company treat each scenario tax-wise?
I am under the impression that if an employee goes to a game without a client, it can be considered additonal compensation and they need to pay the taxes?
thanks
You can only deduct the cost of a regular ticket(not box seats or other special tickets). You can only deduct them then if you transacted business immediately before during or after the game. Be sure you put the name client you took. You cannot take the deduction for your sons tickets. Also any rewards your employer gives you that do not show on your pay stub are still taxable as other income.
you clients wife not your wife You should reimb your company for her share
your son and yourself-no You should reimb your company for your son
and you
no it is just not deductible by the business. It would get charged to you
if its your business, why would you want to add it to your compensation?