Is a luxury suite deductible in this case? Hello,
I understand the cost of a luxury suite/sky box can be partially deductible limited to the cost of non-luxury box seats if the box is purchased for more than one event. What if the box is leased/purchased for the entire year - which means tickets are available for every single event held at the arena. Would this be considered a perk or bonus instead? It is only used mostly for highly compensated employees, the ticket prices for different events can vary. Another question is what determines whether or not the box is luxury or non-luxury? What is the best way to handle something like this?
Thank you for your time. |