Taxpayers can claim a 100% business meal deduction in 2021 and 2022 when they buy the food from restaurants. Taxpayers can generally deduct the ordinary and necessary food and beverage expenses associated with operating a trade or business, including meals consumed by employees on work travel. Currently, the deduction is generally limited to 50% of the otherwise allowable amount. Under the new stimulus law just passed by Congress, the 50% limit won’t apply to expenses for food or beverages provided by restaurants that are paid or incurred after Dec. 31, 2020, and before Jan. 1, 2023. Call or visit our website for more information! www.mjscpa.com/
