Are Your Unreimbursed Partner’s Expenses Deductible?
By EsqSocial Corporation 26/01/21
Since the Tax Cuts and Job Act of 2017 (TCJA) was passed, a little-known deduction for unreimbursed partner’s expenses (UPE) has taken on more significance. Partner’s in partnership and members of an LLC often incur significant out of pocket expenses for travel to conduct business with clients, professional education, seminars, professional dues, client entertainment, and expenses for maintaining a home office (assuming that the expense meets the definition of a deductible trade or business...
By: Bowditch & Dewey