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Dropping the Curtain on Entertainment Deductions

(JofA) - The TCJA extended the 50% deduction limitation for expenses related to food and beverages to those provided by employers to employees in some instances. Because the changes were unclear on whether food and beverage expenses could be deducted when combined with entertainment expenses...


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Explaining the Expanded Excess Business Loss Rule 
(Accounting Web) - For those unaware, the American Rescue Plan expanded the period for applying the excess business loss rules by one year. Losses that get disallowed under the excess business loss provision are added to the non-corporate taxpayer’s net operating loss (NOL) carryover.

Britons Working at Home Spend More Time on Job in Covid Crisis 
(The Guardian) - Official study finds home workers are less likely to take time off sick – but also earn above average

Chrome Introduces Genius New Feature to Make Life Easier 
(Tom's Guide) - New tool lets you share links to highlighted sections of text with a click.

Cannabis is Going Mainstream — Is Your Accounting Firm Ready? 
(CPA Practice Advisor) - In December of 2020, the Marijuana Opportunity, Reinvestment, and Expungement Act (MORE Act) passed the House of Representatives — this could lead to massive change for the cannabis industry in upcoming years.

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