The Tax Cuts and Jobs Act (the Act) is the first major re-write of the Internal Revenue Code since 1986. In regards to its effect on private equity investors and their portfolio companies, the Act contains several significant changes. The new rules are generally effective for tax years beginning after December 31, 2017.
Learn moreUnder tax law applicable for expenditures before January 1, 2018, generally meal and entertainment expenses were 50% deductible. With changes made with the recent legislation (H.R. 1) entertainment expenses are 100% NOT deductible for amounts paid or incurred after December 31, 2017.
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