Test Your Tax IQ: Can Charity Double Entertainment Deductions?
Chip Schott is an avid golf fan.
And so is his biggest client, Ho Lin Wan.
So when Chip finds out the PGA Tour is holding a tournament at a nearby country club, he invites Ho.
Tickets to Sunday’s final round cost $300 a pop, but the fact that 100 percent of the event’s proceeds go to various local charities takes the edge off Chip’s buyer’s remorse—as does knowing that the $600 includes parking and a champagne brunch before tee-off, which we’ll assume constitute 33 percent of the value of each ... Log in to view full article.
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