Stimulus Bill Increases Deduction Amount for Most Business Meals

An often-used tax deduction for business meals was expanded by the most recent COVID-19 stimulus, passed in December and now effective in 2021.

As a result of the Tax Cuts and Jobs Act, passed in December 2017, the deduction for business meals that otherwise met the general requirements for deduction was limited to 50% of the cost of the meal.

Read the full article here.

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