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When is an Entertainment an Expense? (Accounting Today) - The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Today Is Tax Freedom Day â Earlier In LA, TN, AL & OK, Later In NY, NJ, CT & IL (TaxProf Blog) - In 2018, Americans will pay $3.4 trillion in federal taxes and $1.8 trillion in state and local taxes, for a total bill of $5.2 trillion, or 30 percent of the nationâs income. Accounting Class-action Suits Hit Record Levels (Accounting Today) - Securities class-action filings containing accounting-related allegations reached unprecedented heights last year, although the total settlement value declined significantly, according to a new report. The CFA is the Most Brutal Exam in the World of Finance (Business Insider) - More than 100,000 people a year take the exam to earn the Chartered Financial Analyst qualification. It is notoriously difficult â fewer than 50% of people pass the first level. Why iPhone Notifications Need an Overhaul (The Verge) - Everybody hates smartphone notifications. Theyâre interruptive, distracting, annoying, and increasingly less valuable. Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  The Amazing Triple Spiral   |