This webinar provides discussions on the recently released final regulations under Internal Revenue Code section 274 relating to the deductibility of certain meal and entertainment expenses. Main issues addressed and raised by the final regulations, include:

• What are the differences between current law and pre-TCJA law relating to the deductibility of meal and entertainment expenses?

• What is the difference between expenses for meals and those for entertainment?

• Are meals ever considered to be entertainment?

• What steps should an employer take to ensure that it receives the maximum allowable deduction for meals?

This webinar provides discussions on the recently released section 1061. Main issues addressed and raised by the proposed regulations, include:

• What is an “applicable partnership interest” and an “applicable trade or business”?

• How are returns on managers’ invested capital treated?

• Should a manager sell their partnership interests or have the partnership sell its assets and what about distributions?

• Are certain transactions or partnership property excluded from the purview of the carried interest regulations?