Deduct It! by Stephen Fishman

Author:Stephen Fishman [Stephen Fishman, J.D.]
Language: eng
Format: epub
ISBN: 9781413324143
Publisher: Nolo
Published: 2017-07-12T21:00:00+00:00

50% Limit on Meal Expenses

The IRS figures that whether you’re at home or away on a business trip, you have to eat. Because home meals ordinarily aren’t deductible, the IRS won’t let you deduct all of your food expenses while traveling. Instead, you can deduct only 50% of your meal expenses while on a business trip. There are two ways to calculate your meal expense deduction: You can keep track of your actual expenses or use a daily rate set by the federal government.

Deducting Actual Meal Expenses

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