Masonry Magazine September 1963 Page. 23
ssee Chapters
(Continued from page 8)
sion was a "Methods and Systems Clinic," conducted by the Burroughs Corp. with the afternoon being devoted to a Workshop Session on Concrete Wall Panels. Saturday morning the members heard an address by O. Johnson, Regional Mortar Specialist, Portland Association, on "Quality Masonry Mortars". Jack, Executive Director, Mississippi-Louisiana Brick & Association gave a presentation on the role of the products industry. Next years state meeting will under the direction of the Chattanooga Chapter and the Vice President-Elect Mr.
QUICK SET UP
Adjustable
PERFECT FOR
UNLEVEL GROUND
ions & Answers
(Continued from page 19)
ted Entertainment
Question: Are entertainment expenses incurred at places such as night clubs, theaters, sporting events, or on yachts or fishing trips, disallowed under the rules if the expenses are incurred solely for business purposes?
Answer: Not necessarily. If the taxpayer can show the entertainment took place directly before or after a substantial and bona fide business discussion, the cost of entertaining would not generally be disallowed by the rules.
Question: What is a substantial and bona fide business discussion?
Answer: Whether a business discussion is substantial and bona fide depends upon the facts and circumstances of each case. However, it must be shown that a taxpayer actively engaged in a business discussion, meeting, convention or other bona fide business transaction, other than entertainment, to obtain income or some other business benefit. Also, it must be shown that business activity was substantial in relation to the entertainment.
Question: How long must this discussion be in order to qualify as substantial?
Answer: There is no specified length. All the facts and circumstances will be considered. The substantial requirement will be satisfied if active conduct of business is the principal character of the combined business and entertainment activity. However, it is not necessary that more time be devoted to business than to entertainment.
Question: How soon before or after the substantial bona fide business discussion must the entertainment (Continued on page 24)
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1808 BOMARED2-7547 FORT WORTH 3, TEXAS
NRY
September, 1963
23