Article Date:
October 2013


Word Count:
771

 

 

Tax Deductions for Entertainment Facilities (Part 1)


Tax law groups entertainment with amusement and recreation. That’s logical.1

 

But “facility” is another matter.

 

When you think “facility,” what do you think of?

 

You likely said, as does Merriam-Webster’s dictionary, that the word “facility” means a building or a large piece of equipment built for a specific purpose.2

 

Tax Code Definition

 

Tax law has a far more expansive definition of facility. It says that an “entertainment facility” is any real or personal property owned, rented, or used by a taxpayer in connection with an ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee