The IRS recently issued guidance on when meals qualify for 100% deduction and when the 50% limitation on the deduction for food and beverages applies.  The meals must be purchased from a restaurant selling food or beverages to retail customers for immediate consumption to qualify for the 100% deduction. 

For more information, contact Perry Barnett, CPA at (770) 287-7800 or pbarnett@rushtonandcompany.com . Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!

Read more here: https://www.journalofaccountancy.com/news/2021/apr/irs-meal-expense-tax-deduction.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=09Apr2021