And, yes, Stanford abused its right to pass on legitimate entertainment expenses.

Generally, business meal and entertainment expenses are only 80 percent deductible.

But now that entertainment expenses are only 80 percent deductible, he does the entertaining in his office rather than at expensive restaurants.

She said a child who works or gets an allowance should be encouraged to chip in, maybe by paying for entertainment expenses.

On that form, reduce your deductible meal and entertainment expenses by 50% ($250).

As for entertainment expenses, "we're our own entertainment," he said.

But certain business meals and entertainment expenses are a fact of doing business.

Treat your gambling bankroll as an entertainment expense and budget accordingly.

Deductions for business meals and entertainment expenses are generally limited to 80 percent of the amount incurred.

In the second change, only 50 percent of business meal and entertainment expenses will be deductible next year.