Masonry Magazine October 1963 Page. 23
Active Conduct of Business
Question: Do the rules concerning entertainment expenses also apply to expenses for items, such as food and beverage, furnished during entertainment at a facility?
Answer: No, such costs would be subject to the general entertainment rules. For example, you can deduct the cost of business meals at a country club even in circumstances where you cannot deduct any of the dues to the club. (See questions 54 to 59 for deduction of club dues.)
Question: Are interest and taxes on a facility disallowed?
Answer: No. Such expenses are not subject to the entertainment rules but are usually deductible under other provisions of the law even though the facility is used solely for personal purposes.
Seats
Question: Are box seats or season tickets to theater and sporting events treated under the facility rules?
Answer: No. The cost of the box seat or season ticket is allotted to the separate amusement events. The purchase for one event may be deductible regardless of whether the box seat or season ticket is used more than 50 percent for business purposes.
Entertainment Use
Question: Assuming my automobile is used during the year both for entertainment and for business transportation not involving entertainment, can I obtain a deduction for the business transportation use?
Answer: Yes. The portion of depreciation and operating expenses allocable to business transportation continues to be deductible, even if the automobile is considered an entertainment facility used less than 50 percent for business.
Question: Does this mean business expenses allocated to operating a facility for other than entertainment purposes are not disallowed under the facility rules?
Answer: Yes, that is right. For example, if a taxpayer used his yacht primarily for personal purposes, but during the year he rents it to unrelated persons at a reasonable rental, the operating costs attributable to the rental income are not disallowed.
Question: Does the above rule apply where a taxpayer rents his yacht to his controlled corporation?
Answer: Yes, if it is a reasonable, arm's length rental agreement entered into for bona fide business purposes. However, such transactions between related taxpayers will be closely scrutinized to insure that they are.
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