ForumCategory: Taxmeals deduction
Anonymous asked 5 years ago

What is the maximum amount I can expense my meals for business?

1 Answers
Best Answer
Elena Furier Staff answered 5 years ago

You can certainly deduct meals and entertainment expenses that you incur while meeting and entertaining clients. This is a good practice as you want to keep good business relationships with your current and potential clients.
There is no rule for maximum amount that you can claim. However, the amount must be reasonable. Also, please keep in mind that only 50% of the total amount is deductible for tax purposes.