I am confused by the new Meals expense rules implemented in 2018 (I am currently working on 2018 taxes, so this is the first time I've had to deal with these new rules). In the small business expenses, the Meals & Entertainment section now says "Meals While Traveling". I know we can't claim Entertainment, but I need clarification on the Meals deduction.
So, are we still able to claim 50% of meals where we meet locally with clients specifically to discuss business or are we only allowed to claim meals while away from home/traveling (classified as "longer than a regular working day" and "requires time off to sleep")? In other words, as a small business owner, if I meet a client at a restaurant 5 minutes from my home to discuss business, can I write off 50% of that meal or not? Another example, as a professional musician, if I eat a meal during a break while performing at a local gig, can I write off 50% of that meal or does it have to be an out-of-town gig? If I can write off these types of meals, then do they go under "Meals While Traveling"--the only place I can find to enter meals now in TurboTax--or somewhere else?
Thank you!
