Did you know that the Three Martini Lunch Rule ends on January 1, 2023? 🍸🍸🍸
A benefit from the The Consolidated Appropriations Act, 100% of restaurant meals have been temporarily deductible since 2021, ending in 2023 when we’ll return to having both 50% and 100% deductible meals. What’s the difference between the two for your IRS meals and entertainment deduction in 2022?
• Meals for employee appreciation, e.g. company events
• Meals & snacks provided in the office for staff
• Meals as part of income for non-employees
• Food provided to the public for promotional events
• Meals for meetings for employees, owners, shareholders, agents, & directors
• Meals with clients, customers, & vendors
• Meals during business travel
• Meals while attending seminars, conventions, and conferences
Reach out to find out how Specialty Bookkeepers can help you maximize deductions and prepare for changes in tax regulations.