This is a tricky
issue, and you'd really need to use your own best judgment. You can almost surely claim at least some of
the expense, but the "high-end" description of the agenda cover
muddies the waters.
According to
"What Can I Deduct?" on page 3 of IRS Publication 535, Business
Expenses,
To be deductible, a business expense must be
both ordinary and
necessary. An ordinary
expense is one that is common and accepted in your industry. A necessary
expense is one that is helpful and appropriate for your trade or business. An
expense does not
have to be
indispensable to be considered necessary.
So, was it
"ordinary and necessary" to buy a high-end cover? It might be, if others in your line of work
used something similar -- after all, presenting yourself well with clients has
value.
Think of it this way
-- if audited, could you justify the expense to the IRS, as opposed to a
less-pricey version? If the IRS found
that a less costly version would have sufficed, they'd probably allow a
deduction for the price of the less costly version.
Just use your best
judgment -- that's all you can do.
