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Shane-CPA
Shane-CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 265
Experience:  Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant
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Another question for you: Every Friday I take out my core management

Resolved Question:

Another question for you: Every Friday I take out my core management team for a working lunch where we get away from the office and discuss schedules, plans, problems etc. My CPA only deducts 50% of these, but shouldn't this be 100% deductible? Also, I do travel to Portland on business - are meals from business travel 100% deductible as well as airfare, car rental etc? Many Thanks
Submitted: 1 year ago.
Category: Tax
Expert:  Shane-CPA replied 1 year ago.

Shane-CPA :

Hello...my name is XXXXX XXXXX I am a Certified Public Accountant. I look forward to assisting you with your tax question.

Shane-CPA :

There are certain meal expenses that are 100% deductible. These are:


• Recreational expenses primarily for employees who are not highly compensated, such as the business holiday party or the company picnic
• Office snacks provided to employees at the office
• Meals provided on the employer’s premises to more than half of the employees for the convenience of the employer, meaning meals provided to employees to keep them working late or on weekends for the employer’s convenience
• Meal expenses (or goods, services, and facilities) made available to the public, usually for advertising and promotional purposes
• Meals for which the business is reimbursed for the expense
• Meal expenses includible in income of persons who are not employees

Shane-CPA :

Based on the 2 scenarios you provided, since you are taking the "core management team" to lunch, this would be considered limited to 50%...

Shane-CPA :

In your second scenario, meals related to business travel are also subject to the 50% limitation...

Shane-CPA :

The 50% tax deduction for meal limitations generally includes the meal expenses below:


 


• Meals directly related to business meetings of employees, stockholders, agents, and directors
• Office meetings and partner meetings
• Meals with clients, customers, and vendors that will benefit the business
• Meals while on business travel status
• Meals while attending a business seminar, convention, or any other form of meeting

Shane-CPA :

Unfortunately, in most circumstances, meals are limited to the 50% tax deduction.

Shane-CPA :

I hope this helps to answer your tax question. If I can provide you with any additional assistance please let me know by simply responding in this chat. I look forward to helping you!

Shane-CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 265
Experience: Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant
Shane-CPA and other Tax Specialists are ready to help you

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Shane-CPA
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Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant