Tax Deductibility of Business Meals
The “Taxpayer Certainty and Disaster Tax Relief Act of 2020” (the Act), enacted as a part of the “Consolidated Appropriations Act, 2021” (CAA 2021) allows for a full tax deduction for certain business meal expenses. This is an increase from the 50% deduction limit historically associated with deductions for business meals. Congress had Restauranteurs on [...]