Business dinner; 50% writeoff. IRS doesn't check the vintage of the wine, the items consumed, the amount of the tip, nothing. It's the regular practice among the wealthy, and they laugh all the way to the bank.<quoted text>
I know as a small business owner there is nothing I can deduct that isnt a legitimate write off.
The bottle of french wine you mentioned is not a legal write off. It may be common for businesses to write things like that off, but they are not legal to do so..........
This is the reality. The taxpayer takes the hit.