Notice 2021-25 Provides Guidance on the Food and Beverage Deduction Overview of the Business Meal Deduction Under current law, businesses may deduct 50% of the cost of business-related meals. The Consolidated Appropriations Act, 2021, (CAA, 2021) included a provision regarding deductibility of business meal expenses to assist taxpayers impacted by COVID-19. The legislation adds an … Continue reading Deducting Business Meals: IRS Guidance on What is a ‘Restaurant’