Article Date:
August 2019


Word Count:
699

 

 

Creating More Business Meal Tax Deductions After the TCJA


Here’s good news for business meals: the Tax Cuts and Jobs Act (TCJA) removed the “directly related and associated with” requirements from business meals.

 

The net effect of this change is to subject business meals once again to the pre-1963 “ordinary and necessary” business expense rules.

 

You are going to like these rules.

 

Restaurants and Bars

 

Question 1. If, for business reasons, you take a customer to breakfast, lunch, or dinner at a restaurant or hotel, or to a bar for a few drinks, but you do not discuss business, can you deduct the costs of the meals and drinks? ... Log in to view full article.

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