Is your holiday party a business deduction?

11/24/2013 | Fox Business Small Business Center

Holiday parties open to employees only or to the general public are fully deductible under IRS rules, writes Bonnie Lee. But beware: If the party is for clients, there must be some sort of presentation or other substantial business element to make the event deductible. "Keep a copy of the invitation and make sure the business purpose is indicated," Lee recommends.

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