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Does claiming the self-employed 100% meal deduction for 2022 put me at higher risk of audit? I usually deduct 50% of consultation and networking meals (=low audit risk)
I notice if I claim 100% of meals (as is allowed for tax years 2021-2022), then my audit risk jumps to medium, and if I keep it at 50%, it stays at low risk. These are consultation and networking meals at restaurants, so want to be sure I am claiming this correctly and not putting myself at risk. Any reason why taking this 100% deduction would increase my audit risk? Thank you!!
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March 24, 2023
3:27 PM