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For accounting purposes, each FF&E merchandise has a unique helpful life, according to IRS pointers. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various neighborhood and nonprofit organizations. She has performed in-depth analysis on social and financial points and has also revised and edited academic materials for the Greater Richmond area. Contact us at present to receive your free session on owner’s representative providers. Other Equipment – that isn’t a product on the market similar to weights and fitness center tools in a health center, or a forex counter in a bank or a rotating clothes rack in a dry cleaning enterprise. This article discusses the historical past of the deduction of business meal expenses and the new guidelines beneath the TCJA and the rules and provides a framework for documenting and substantiating the deduction.