Tax Information and Implications 1' 5151,5111] in meal and entertainment expenses showr as a permanent difference for tax Prepare - The company\"r uses straight line depreciation for book and MACRS depreciation for the tax retI ' MACRS depreciation was $29,31 higher than hook. Prepare the adjustlng entr'jlr for the tie ' There have been recent tax structure changes The could impact The company. Peyton Approx. beginning of these changes. Peyton provides for taxes at 25% of pretax income {20% Federal, 5915