Rachel Biondo

Jun 5, 20191 min

Meals & Entertainment- THEY'RE PAYING ATTENTION

Updated: Aug 20, 2019

There's actually LOTS of changes all the time.

2018

The Tax Cuts and Jobs Act of 2017 has made significant changes to the deductibility of business meals and entertainment starting in 2018. At a high level, entertainment expenses are nondeductible and most meals are 50 percent deductible .March 21, 2018

https://www.bakertilly.com/insights/meals-and-entertainment-expenses-for-2018/

https://www.securitysales.com/business/2018-tax-act-meal-entertainment-deduction-rules/
 

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 2019
 

The IRS has issued guidance clarifying that taxpayers may generally continue to deduct 50% of food and beverage expenses. IRS Notice 2018-76 clarified that actual business meals — in which business is actually discussed — are still deductible. ... To be deductible the meal must be on a separate receipt.Dec 18, 2018

https://www.securitysales.com/business/irs-business-meals-deductible/
 

 

#ChangeIsGood #OhSoPrepared #SOPdotSolutions