As we come out of the pandemic, you may be traveling again for business. There are a number of rules for deducting business travel expenses. Here are some of them.
What are the Rules for Deducting Business Travel Expenses?
Tag: business expense deduction
Business Expense Deductions Affected by New Tax Law
The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. Under the TCJA, the deduction for entertainment is completely repealed.