Sole Proprietorship - Schedule C
As a Salesman, are the NY Knick tickets I gifted my client deductable?
Sporting event tickets are considered an entertainment expenses, if you accompany them. The deduction for a business gift is limited to $25 per person per year. Generally, the amount allowable as a deduction for meals and entertainment expenses is limited to 50% of such expenses.
Need Professional Help?
If you need help with "Sole Proprietorship - Schedule C" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.