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!