- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
As long as you are not a W-2 employee yourself and you file a Sch C, then "yes" it is deductible.
In particular, the IRS guidance reads as follows:
- Taxpayers may continue to deduct 50% of the cost of business meals if the taxpayer (or an employee of the taxpayer) is present and the food or beverage expenses are ordinary and necessary in carrying on the trade or business and are not considered lavish or extravagant under the circumstances.
In TurboTax you actually enter the 100% of the meals and TurboTax makes the 50% computation.
‎June 4, 2019
6:16 PM