Best Certified Public Accountants in Camrose, AB

𝗠𝗲𝗮𝗹𝘀 𝗮𝗻𝗱 𝗘𝗻𝘁𝗲𝗿𝘁𝗮𝗶𝗻𝗺𝗲𝗻𝘁 – 𝗙𝘂𝗹𝗹𝘆 𝗱𝗲𝗱𝘂𝗰𝘁𝗶𝗯𝗹𝗲?nnIn general, meals and entertainment are only 50% deductible to businesses.n nHowever, there are some exceptions. Exceptions, in which meals and entertainment charges are 100% deductible include:n n· Fund-raising event for a registered charity.nn· Up to 6 events per year, where the events are held at a particular business (i.e. hotel, hall, business premises, or restaurant) and the food, beverage, and entertainment are generally available to all employees of the business. For example, a Christmas party, an employee lunch to recognize a milestone or a Town Hall meeting would qualify.nn· Costs incurred on behalf of an employee where such charges are provided in a remote work location in Canada, and the employee is at that remote work location for at least 36 hours.nn· Meals on behalf of an employee provided at a construction activity site or construction work camp, provided the employee is at that remote work location for at least 36 hours.n nIt’s important to have a conversation with your bookkeeper to ensure such exceptions are properly classified/segregated for accounting purposes, which in turn help your accountant record them properly for tax purposes.n nContact the Partners at Evolve if you have any questions surrounding deductibility of meals and entertainment, or any other business deductions.n n#yeg #yegaccountant #yegaccountants #edmontonaccountant #edmontonaccounting #yycaccountants #albertaCPAs #albertaaccountants #corporatetaxes #personaltaxes #yeglocal #yeglocalbusiness #yegprofessionals #yegbusiness #Edmontoncpas #yegcpas #corporatetaxes #personaltaxes #businessdeductions...