What is the 80% deduction for meals and entertainment?

Forum|Forum|4 years ago
December 4, 2021
18 replies
43 views

What qualifies a business for an 80% (as opposed to 50% or 100%) deduction for meals and entertainment.

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PATAX

Level 12

Maybe the answer is in the US Master tax guide, quickfinder, or other reference material....

Just-Lisa-Now-

Intuit Community Champion

Google 'irs meals entertainment 80%' and you should find what youre looking for

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TaxGuyBill

Publication 463 covers meals and entertainment.

Open that open and use your search-function to find "80%".

🙂

IRonMaN

Level 15

"If you are subject to the Department of Transportation (DOT) hours of service limits, the allowable deductible percentage is increased to 80% for business meals consumed, or related to, any period of duty for which those are in effect."

Sorry, I have to post the actual answer before the line of hints gets so long that it starts to impede traffic flow.

Slava Ukraini!

Just-Lisa-Now-

Intuit Community Champion

🐟 vs 🎣

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

qbteachmt

Level 15

Deductible entertainment? Make sure to look at Dates, if you rely on articles that have tables that will assist you in applying what the IRS dictates:

https://blog.redpathcpas.com/meals-and-entertainment-in-2021

https://www.journalofaccountancy.com/issues/2021/mar/irs-entertainment-tax-deductions.html

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