Schmoozing for Business

[SportsNut]

You can take meals and entertainment as a 50% expense on your taxes. Gifts 100%,

So you write off all of the clients ticket and half of your own.

Oh, I see... I thought you were referring to that new 50% marginal tax rate we will have before long...

Problem with meal deductions are you are deducting 50% of the cost of a meal at your marginal rate... so even if in the 35% marginal bracket, on a $ 100 meal charge, you are receiving a $ 17.50 tax benefit, if at the 35% marginal rate. Better than a poke in the eye with a sharp stick, but hardly a motivating factor to do so.

What about this Pad... (if I remember right you are a tax poobah), Gift your client the 100 bucks and have him buy the dinner and tix... that way you get to deduct the whole 100 bucks...

Of course you aren't going to much of a game and dinner for 100 bucks these days.... more like 100 bucks per tix, plus dinner...

 

[padthaiforlunch]

I suppose you could give him both tickets and write off 100%. Not sure about whether giving him the tickets at the stadium entrance qualifies...

 

[ABC]

Well, I struck out on both cases.

The first one the controller would not work with me and the other one had 11 people out of 34 taking health benefits.
This group has a large latino segment that will not take coverage.

So I spent less than $130 to strike out on both cases.
but who knows what the future will bring.

The case where the controller would not speak with me is getting to have a changing of the guard. The son it taking over the company.

The 2nd case I will eventually get if the economy does not get them first.