Good day my friend,

I was reviewing some expenses in our 2023 trial balance and was wondering if we would be able to deduct any of them on our tax return this year?

1. Meals & Entertainment Expenses we paid:
   1. Expenses related to have a holiday party for all employees $12,000
   2. Tickets and food expenses for taking the CEO of a client to the theatre
      1. Tickets $3,500
      2. Food & beverages at a restaurant next to the theater $300
   3. Lunch with business acquaintances (no business discussed during the meal consumed at a restaurant) $250

Please write a short explanation of the law, citing relevant primary sources and calculate the book-to-tax adjustment