Can I Write Off Sporting Events as Business Expenses?

There’s nothing quite like a live sporting event. The roar of the crowd, the smell of the stadium food, the anticipation — seeing your favorite team play in person is a blast.

However, it’s not uncommon for businesses to use events to conduct business. It’s a fun way to get to know clients in a relaxed environment.

But do these tickets count as a business expense, or will you have to pay out of pocket? Keep reading to find out!

Do Sports Tickets Count as Business Expenses?

Good news for sports fans looking to hit up a game in their area this year! You can write off sports tickets as a business expense come tax time!

But before you throw on your jersey and head off to the stadium, there are a few things you’ll want to know about your write off.

While it’s true that the purchase of tickets and boxes count as a business expense, it comes with a major string attached. You’ll have to prove that you used the event as a means of furthering your business relations.

You should know that entertainment-related business expenses are under a great deal of scrutiny from the IRS ever since the passing of the Tax Cuts and Jobs Act.

That means that you can’t buy season tickets for yourself and your family and consider it a business expense. You’ll have to use the game for business purposes only, and prove that business occurred during the course of the event.

Tips for Tax Time

It’s quite exciting that you can write off sports tickets. But how are you to prove that the event was a business expense and not something for your own personal enjoyment?

The easiest way to get your deduction is by keeping close tabs on your expenses. Make sure you’re storing receipts in a secure location where you can access them come tax time.

Likewise, you’ll have to keep track of a number of details that wouldn’t ordinarily cross your mind. For example, your mileage, the date of the event, copies of the tickets themselves, and so on.

In short, you’ll need to keep up with anything and everything related to the game(s) you attended for your company.

If that sounds like a lot to keep up with, don’t forget that you can always scan paper documents to your computer for easier storage. This is a great, eco-friendly way to track your expenses and even keep up with your checks, as PayStubs points out.