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Updated almost 4 years ago,
Can I deduct a gym membership for the purpose of capital raising?
I belong to a clubhouse gym that wealthy people belong to. The cost of the membership is absurd compared to a regular gym membership and the only reason why I'm paying for this membership is to meet high net worth individuals to raise capital for my business.
I think I know the answer to this but considering if the purpose of the gym was just to get fit alone, I would have no desire to pay a premium to go move some weights but in this case, am I allowed to deduct this as a business expense for networking purposes?