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WSB tax tip for the Oktoberfest: Celebrate for business, benefit for tax purposes
When you celebrate on business, the tax office is always at the table. However, this does not mean that you and your business partners are not allowed to have fun or that you even have to foot the bill for the tax officials in the end.
On the contrary: if you do it right, you can even let the tax authorities share in your costs.
And even a visit to a beer tent can be a business meal if it is for business purposes.
This reason must be credibly proven ...
A hospitality voucher with the following details will help you with this:
👥 Who did you entertain?
Here you must name the business associates and employees present.
🗂️ The specific occasion is important.
"Business lunch" alone is not enough, "Discussion of the next steps in project XY is much more meaningful.
🧾 You need a machine-generated hospitality invoice showing all the food and drinks consumed.
The date of the hospitality must also be stated.
If you meet the requirements, you can deduct 70 % of the costs incurred as a business expense!
👉 Want to play it safe? Talk to us. We at WSB will be happy to assist you and help you with your tax questions and concerns: https://wsb-berater.com/kontakt
#Oktoberfest #Business lunch #Operating expenses #Tax advice #WSB