There Is No Free Meal
“Sandy, I received an invitation for a free meal at an investment seminar. Is this taxable, if I go with my wife?”
Answer: No, it isn’t taxable. As a recipient of the meal, you don’t owe any income tax on this benefit no matter how lavish the meal. HOWEVER, there is no such thing as a “Free meal.” I have always said that “the most expensive things in the world use to be a lady who is free for the evening.” Today the most expensive thing can be a free investment seminar. Undoubtedly you will have to listen to a sales pitch plus you may have to endure follow up contacts.
Note: If you pay to attend an investment seminar or attend a convention on investments, you can’t deduct the cost either.
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