If your small business woos new clients with dinner, drinks and seats to basketball games, you likely can't take a tax break for those expenses.
The Tax Cuts and Jobs Act, which went into effect in January, changed the way business owners can claim deductions for meals and entertainment.
Prior to the new tax law, employers were able to deduct 50 percent of the cost of entertainment-related meals, 50 percent of the face value of a ticket to a sporting event and 100 percent of meals provided to workers for the employer's convenience.
As of 2018, those tax breaks are facing changes.
That means there's no deduction for sporting events or for entertainment-related meals, and meals and snacks offered at work are 50 percent deductible for now but become nondeductible after 2025.