Federal Income Tax Tax Tax Deductions

Planning for Tax Deductible Entertainment Expenses

Entertainment expenses are deductible but the deduction is limited to 50 percent of the amount spent. There have been a number of disputes between taxpayers and the IRS as to what counts as a limited entertainment expense. The law was recently changed such that entertainment expenses are no longer deductible.  This change to full disallowance […]

Federal Income Tax Recordkeeping Tax Deductions Tax Procedure

Truck Driver Not Entitled to Deduct Meal and Supply Expenses

In Elsayed v. Commissioner, T.C. Summary Opinion 2009-81, the U.S. Tax Court reviewed meal and unreimbursed expenses incurred by a truck driver. This case shows the difficulties truck drivers have in capturing and substantiating their expenses for tax purposes. Facts & Procedural History  Elsayed was employed as a truck driver for Swift Transportation and A-Z […]