Newsday quoted Tax Partner Robert Spielman in an article discussing the new IRS rules pertaining to deduction of business meals and other entertainment expenses.
By Jamie Herzlich
So for instance, businesses can no longer take a 50 percent deduction for club dues when taking clients to play golf, says Robert Spielman, a tax partner at Marcum LLP in Melville, or for entertaining at nightclubs, theaters, country clubs and sports events. Proposed regulations further clarifying meals are expected to be published by the Department of Treasury and the IRS, says Spielman, but the IRS didn’t specify when that would be. In the meantime, “the guidance provides a current roadmap,” says Spielman.