Can you deduct golf expenses when you’re a business owner? Yes, but it isn’t quite as straightforward as other entertainment expenses. That’s because the IRS assumes that any discussions with your fellow golfers while on the course is never business-related. Even if you are talking business while playing, you likely cannot use that nonbusiness setting discussion to qualify your entertainment expenses. But, there is a simple solution. Move the business discussion to a “business setting” shortly before or after your golf game.

With regard to golf, you can deduct golf green fees, guest fees, cart fees, caddies, tees, balls & gloves, beverages, snacks, breakfast, lunch or dinner. And, you can deduct your own costs, even if you go Dutch & pay only for yourself.

In order to be able to deduct golf as a valid business expense, you need to create proof that the location was not on the golf course itself. Your business discussion can take place directly before or after, but it must occur reasonably close in time to the business setting business discussion.

The Venango Chamber invites you to set up at the Trade Show planned for June 25 at Wanango Country Club, from 8:30 – 10:30 a.m. or come and visit the vendors. Either way, a day of golf will conveniently follow! Information is available on the Golf Registration Form

Source: paragonaccountingandtax.com/correctly-deduct-golf-expenses

Our annual golf scramble is scheduled for June 25th! Please visit https://members.venangochamber.org/events/details/golf-scramble-2338 to register your team today.

This article was published in the Venango Chamber’s June 2020 VenangoWorks! Newsletter