Grace is a self-employed sales consultant who spends significant time entertaining potential customers. She keeps all the appropriate records to substantiate her entertainment. She has the following expenses in the current year: Meals where business was conducted $5,000 Greens fees (all business) 500 Tickets to baseball games (all business) 500 Country Club dues (all business use) 6,000 What are the tax-deductible meals and entertainment expenses Grace may claim in the current year?

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
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Chapter3: Business Income And Expenses
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Grace is a self-employed sales consultant who spends significant time entertaining potential customers. She keeps all the appropriate records to substantiate her entertainment. She has the following expenses in the current year:

Meals where business was conducted $5,000
Greens fees (all business) 500
Tickets to baseball games (all business) 500
Country Club dues (all business use) 6,000

What are the tax-deductible meals and entertainment expenses Grace may claim in the current year?

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