When Are Meal Expenses Nondeductible Entertainment?
By Herman Spence III The IRS recently issued Notice 2018-76 to provide transitional guidance on the deductibility of certain business meal expenses. Taxpayers may rely on the Notice until regulations are issued. 1. Interim guidance. Under the Notice, taxpayers may deduct 50% of an otherwise allowable business meal expense if (a) the expense is ordinary […]
