Meals Entertainment - What is Deductible and What is Not?

Probably the most daily racket deductions are meals and entertainment. However, commonality are much disconcerted approximately if the expenses are fully deductible, partially deductible or not deductible at all. 50% Deductible The regular law for deducting meals and entertainment expense is that 50% of the payment is deductible if the next requirements are met. Requirement #1 The expense has to be common and needed in the trade, business, or profession. In other words, it must be commonly public to retain this expense and it must be correct in the commerce or business.

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