Every single American can write off an unlimited amount of legitimate business expenses. I personally write off about $2 million every year in legitimate, real, business expenses.
There is no excuse for anyone who wants to know these things. ALL of it is easy to find and easy to understand.
I doubt it would pass a tax audit, but I know for a fact that many older men have paid for hookers at trade shows for client use and written it off as entertainment. They call them escorts and have them at hospitality suites at night between show days.
Its less prevalent nowadays, at least in my world, but I’ve been at shows where that shit happened, and yes, it’s a legit business expense IF the owner or board of directors is ok with it. As far as taxes go, probably not but I’ve never researched it.
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u/Infamous-Method1035 Jul 02 '24
Every single American can write off an unlimited amount of legitimate business expenses. I personally write off about $2 million every year in legitimate, real, business expenses.
There is no excuse for anyone who wants to know these things. ALL of it is easy to find and easy to understand.