New Tax Law: Business Entertainment Expenses No Longer Deductible in 2018

Under the Tax Cuts and Jobs Act, starting in 2018, business entertainment expenses are no longer deductible, whereas previously 50% were deductible. However, meals provided by an in-house cafeteria or on the employer's premises remain 50% deductible. Businesses that heavily use the entertainment deduction must assess the impact on their bottom line. SAP Concur suggests automating expense reporting and tracking to manage the transition.