can i write off concert tickets

Concert tickets can be deductible if they are used for business entertainment purposes, such as entertaining clients to discuss business matters. The IRS requires that the entertainment be directly related to or associated with the active conduct of business. For example, if a business owner takes a client to a concert to discuss a potential deal, this may qualify. However, the Tax Cuts and Jobs Act of 2017 eliminated the deduction for most entertainment expenses, so the deduction is limited. The cost of the tickets must be ordinary and necessary, and only 50% of the expense is typically deductible if it qualifies. Documentation showing the business purpose and the individuals entertained is crucial.