Are business meals still deductible?
Deducting business meals with clients is no longer so clear-cut following the passage of the Tax Cuts and Jobs Act. That’s because meals are still 50% deductible, but entertainment isn’t. Make sure you make a clear distinction between entertainment and meals by keeping an expense log documenting the business purpose of each meal.
Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in McLean and Tysons Corner, VA. Gilliland & Associates is known for our superior knowledge and aggressive interpretation and application of tax laws. We help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.
