Holly took a prospective client to dinner at a restaurant, and after agreeing to a business deal, they went to the theat

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answerhappygod
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Holly took a prospective client to dinner at a restaurant, and after agreeing to a business deal, they went to the theat

Post by answerhappygod »

Holly took a prospective client to dinner at a restaurant, and
after agreeing to a business deal, they went to the theater. Holly
paid $490 for the meal and separately paid $170 for the theater
tickets, amounts that were reasonable under the circumstances. What
amount of these expenditures can Holly deduct as a business
expense?
A. 650
B. none - the meals and entertainment are not deductible except
during travel
C. 490
D 85
E 330
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