Trump Pushes to Bring Back Entertainment Tax Deductions
Amid coronavirus. President Trump intensified his calls to bring back tax deductions for businesses providing entertainment for customers, associates and employees as a way to help hard-hit businesses recover from the economic slowdown tied to the coronavirus. The 2017 tax law removed deductions for entertainment provided by companies to their business associates but left in place deductions for meals. The rules, however, left some ambiguity between what counted as a meal and what counted as entertainment, potentially dinging the restaurant industry in the process.
Pennsylvania Restaurant Says Insurer
Must cover COVID-19 closure. A Philadelphia restaurant asked a federal judge Friday to declare that orders closing “nonessential” businesses and dine-in services to prevent the spread of the novel coronavirus triggered “civil authority” coverage of lost income under its commercial insurance policy. “Under the policy, insurance is extended to apply to the actual loss of business income sustained and the actual, necessary and reasonable extra expenses incurred when access to the insured property is specifically prohibited by order of civil authority,” the complaint said.
Did You Know?
Struggling to stay afloat, restaurant owners listed a rare bourbon for $20,000. A veteran bought it for $40,000. Like many in the restaurant industry, Suzanne and Roger Perry saw their restaurant business in Tampa, Florida take a huge hit because of the coronavirus pandemic. Across the US, states have ordered the closure of bars and restaurants to help curb the spread of the virus. Some restaurants have completely shut down, others have transitioned to pick-up or delivery only, and a handful have resorted to creative options including selling groceries or including toilet paper in their food orders to keep their businesses afloat.
Samuel Adams is offering $1,000 grants to unemployed restaurant and bar staffers. Across the US, millions of restaurant employees who worked to bring food to our tables are now struggling to keep food on their own as coronavirus shutdowns have put them out of work. But in 20 states, restaurant workers will be able to receive some relief thanks to Samuel Adams.
Restaurant Industry Daily Alerts
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