Rachel DeFrain, Michelle Gray, and Tiffany Eichhorn, Senior Accountants in Kreischer Miller's Tax Strategies Group, wrote an article for a recent issue in General Building Contractors Association's (GBCA) Construction Today on mobile workforce guidelines for contractors.
Are you wondering if that golf outing or burger and beer are deductible for your construction company? There are some opportunities and changes for company meal deductions that may reduce the company’s income in the current 2021 tax year, which can provide more advantageous tax results.
This Q&A offers general guidance for the accounting and deductibility of business meals and entertainment accounts.