Tax Deduction for a Business Meal [Video]

Business meals are 100% deductible in 2021 and 2022.

But to be deductible, the meal must have a business purpose: you’re meeting a client, supplier, or business associate and are discussing business.

And the cost of the meal can’t be lavish or extravagant for the circumstances.

If you’re by yourself you can also deduct a meal, but only if you’re away on business.

For example, if you’re attending a conference or visiting a business associate out-of-town.

In any case you need to keep records.

You need the location, date, and price of the meal. But a restaurant receipt is not enough.

You also need to record who was present at the meal and what business was discussed.

Now if you’re self-employed your spouse could count as a business associate if you legitimately discussed business, but if you take advantage of this you’ll run into problems with the IRS.

The expense can’t be lavish or extravagant under the circumstances.

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