IRS Issues Guidance on Business Meal Deductions
By EsqSocial Corporation 16/04/21
On April 8, 2021, the Treasury Department and the Internal Revenue Service issued guidance regarding the temporary 100-percent deduction for food and beverage purchased from restaurants. Beginning January 1, 2021, through December 31, 2022, businesses can deduct 100% of their food or beverage expenses paid to restaurants if the business owner (or an employee of the business) is present when food or beverages are provided, and as long as the expense is not lavish or extravagant under the...
By: Ervin Cohen & Jessup LLP