During $2023,$ Stork Associates paid $$69,000$ for a $20-$seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $$75$ to $$225$ each. At one game, an employee of Stork entertained $18$ clients. Stork furnished food and beverages for the event at a cost of $$1,400.$ The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated.

How much may Stork deduct for this event?

Answer rating: 100% (QA)

To calculate the deductible amount for the event we need to consider the cost of the skybox rental t... View the full answer