Top Restaurants and Bars for your Clients and Prospects

Finding a good restaurant for taking out your clients is not a problem at all in Toronto. There are many restaurants and lounges that are great to entertain your clients and show that you care about them. And, meals and entertainment is a common expenditure incurred by most businesses as a means to entertain clients, sales prospects, and treat your staff.

We want to highlight some of the best places that we like to go to that you may also enjoy. Whether for lunch, dinner or a couple of drinks at the end of the work day, here is a list of our favourite spots Downtown:

Cactus Club on Adelaide
The rooftop patio is great! A good place and ambiance to take out your clients and contacts.
Earl’s King Street
A great spot for professionals to catch up over a drink. Great menu as well
Joey’s Yonge and Dundas
Another great spot to entertain your clients. It’s a great spot at a busy intersection.
Oliver & Bonacini
Great Italian selections and a good spot for a drink.
Moxies on Wellington
A go to spot for entertaining you contacts. Good food and appetizers as well.
Real Sports on Bay
Perfect spot to catch a sporting event with your clients and contacts.
Duke Pubs
Whether its Duke of Devon or Duke of Westminster, you will have a great spot for food and drinks and a great patio.

For some of the top bars in Toronto, check out this link as there are some great spots for sure.

http://www.huffingtonpost.ca/2016/02/11/best-toronto-bars_n_9211816.html

Also, sports tickets and concerts are also popular forms of gifts to clients. Raptors, Leafs, Blue Jays, and Toronto FC season tickets or packages are a great way to purchase tickets for your business. A pair of tickets as gifts to your clients and contacts and I am sure they will greatly appreciate the gesture. We find these are quite popular and enjoyed greatly by our clients and contacts.

Your Tax Impact

According to the CRA, you may deduct expenditures that are reasonable and incurred for the purpose generating business income. Generally gifts that are sports or entertainment related and client meals are 50% deductible for tax purposes. In some instances, you may be able to fully deduct the cost of gifts pertaining to restaurants or sporting events if they can be classified as advertising or promotion expense. Also, as the meals and entertainment costs are 50% deductible for tax purposes, it also applies to your HST filings as the Input Tax Credits on the meals and entertainment costs are also 50% allowable.