Prior to the Tax Cuts and Jobs Act of 2017, taxpayers could only deduct 50 percent of meals and entertainment and 100 percent of meals provided for the convenience of the employer. Under the new law, effective January 1, 2018, entertainment is no longer deductible and meals for the convenience of the employer are subject to the 50 percent limitation. For tax years after 2025, meals for the convenience of the … [Read More »]
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