Question
Annual Winery shareholders meeting
A couple are shareholders in a high-end Napa , California winery and are invited to the annual shareholders meeting every year at the winery. Typically, small groups visit other similar quality wineries while there to assess the competition's quality and operation. Aside from the travel to and from the meeting and lodging while there, what portion of the additional competitor's winery research and visit is deductible as a business expense? None of the tastings or meals at the other wineries are comped or reimbursed by the company.
