RULES OF THE GAME: Clear tax tips


Business Lunches

“Tax law, like Congress, works to distance itself from common sense.”

I don’t always eat lunch, but when I do it ‘s tastier when subsidized by the government. Yum! Here is an overview of the rules.

50% of the reasonable cost of business lunches is deductible. (Transporters can deduct 80%*.) If it is appropriate to bill a customer for lunch, you can deduct 100% of the cost and the customer is stuck with the 50% limit. I haven’t done this yet, but you may have a construction contract with travel and meal per diems or some such. [···]

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