What are Business Meals deductions?
Business Meals deductions are a federal tax benefit allowing companies to deduct a percentage of qualifying meal expenses incurred for legitimate business purposes. Most business meals are 50% deductible, while specific categories, such as office meetings, employee overtime meals, and promotional activities, qualify for 100% deductibility. Department of Transportation workers can deduct 80% of the cost of meals consumed during mandated rest periods. Meals deductions require detailed documentation, including receipts, business purpose statements, and attendee information, to satisfy IRS requirements and withstand audit scrutiny.
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