The Tax Cuts and Jobs Act of 2017 removed entertainment from available business tax deductions, but did not address deductibility of expenses for business meals. To clarify the confusion that arose in the business community due to this omission, the IRS recently released interim guidance that taxpayers can rely on until they issue proposed regulations.
In September 2017, about a year ago, a massive Equifax security breach became public knowledge. If there was a silver lining to this infamous event, it likely spurred more consumers to take more measures to protect their identities. Perhaps you’ve frozen your lines of credit, or you’re at least checking your credit reports more regularly these days.