Accounting for Country Club Membership?
Robert H asked:
I own a small business that is reported on my schedule C on my personal tax return. How do I account for my Country Club membership?
See your 2008 Updated Credit Report here
Tags:Personal Tax Return,Schedule C,Small Business
I own a small business that is reported on my schedule C on my personal tax return. How do I account for my Country Club membership?
See your 2008 Updated Credit Report here
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Filed under: United States on June 30th, 2009
See your 2008 Updated Credit Report here
You don’t. A personal expense is not deductible.
See your 2008 Updated Credit Report here
The membership fees and initiation fees would not be deductible. The IRS is specific on this issue.
If you entertain clients at the CC, expenses of meals, greens fees, and such may be deductible as business entertainment expenses.