June 20, 2008, Newsletter Issue #122: Ticket Write-Offs
Tip of the Week
You learned quite a bit about corporate entertaining from the lavish parties given by Tyco executives. All you want is to reward your employees Hockey Night in Canada (only maybe not in Canada) with tickets to a Maple Leafs match. Can you write off ticket gifts for corporate incentive programs? We're not tax attorneys or accountants and we can't presume to give legal advice.
A ticket gift certificate sounds like a reasonable write-off to us, but then, we almost bought stock in Tyco. Companies write off corporate incentive programs every day, but you need to consult with a tax attorney about the laws regarding a corporate gift. After all, you don't want to live in fear that you might have to actually ship your company to Toronto because your accountant notices something odd.
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