One of the tax breaks that President Trump has proposed to help restaurants is an increase in the amount allowed for business meal and entertainment deductions.
Tax Breaks Proposed for Business Meal and Entertainment Deductions
Tag: business meal expenses
Meal, Travel and Entertainment Expenses: Know what’s Deductible
Business meal and travel expenses are still deductible if they qualify as legitimate business expenses, though the deduction for meal expenses continues to be limited to 50% in most cases.
Deducting Business Meal Expenses Under Today’s Tax Rules
The treatment of business meal expenses and entertainment expenses became more complicated after the Tax Cuts and Jobs Act. Here’s how to get the biggest tax-saving bang for your business meal bucks.