Meals & Entertainment Chart-0%-50%-100%

September 4th, 2021 at 1:10 PM

Have you missed partying and having business meals with your prospects, customers, and employees?

Well, get ready to start again. Soon, COVID-19 will behind us. It could be just a few short months away.

To help you get ready, check the table below for what you can do in 2021 and 2022 as the law stands now:

	Amount Deductible for Tax Years 2021-2022
Description	100%	50%	Zero
Restaurant meals with clients and prospects	X
Entertainment such as baseball and football games with clients and prospects			X
Employee meals for convenience of employer, served by in-house cafeteria		X
Employee meals for required business meeting, purchased from a restaurant	X
Meal served at chamber of commerce meeting held in a hotel meeting room	X
Meal consumed in a fancy restaurant while in overnight business travel status	X
Meals cooked by you in your hotel room kitchen while traveling away from home overnight		X
Year-end party for employees and spouses	X
Golf outing for employees and spouses	X
Year-end party for customers classified as entertainment			X
Meals made on premises for general public at marketing presentation	X
Team-building recreational event for all employees	X
Golf, theater, or football game with your best customer			X
Meal with a prospective customer at the country club following your non-deductible round of golf	X

Mark S. Fineberg, CPA