With the passage of tax reform in 2018, meals and entertainment have been revised. Here are some things you will need to know:
ALL business entertainment expenses incurred are no longer tax deductible no matter what the circumstances. This includes ball games, movies, plays, concerts, club memberships, etc…
Business meals associated with entertainment are no longer tax deductible. For example, a business meal at a ball game would give you no deduction for the meal or the ball game tickets.
The following business meals are 50% tax deductible:
The following business meals are 100% tax deductible:
Code Sections: 274(a)(1), 274(k)(1), 274(n)(1), 274(e)(1)&(2), 274(e)(5)&(6), 274(e)(7)