Understanding Business Meal Deductions Under the Tax Cuts and Jobs Act (TCJA): A Guide for Small Business Owners and Accountants
Understanding business meal deductions under the Tax Cuts and Jobs Act (TCJA) is critical for small business owners and accountants to maximize legitimate tax savings while avoiding audit risks. This guide breaks down the key rules, including criteria for deducting business meals, exceptions to general limitations, and the importance of proper documentation. Learn how to distinguish deductible meals from non-deductible entertainment expenses, navigate common misconceptions, and comply with IRS guidelines to ensure your deductions are compliant and well-substantiated. Stay informed and reduce tax liability with practical steps outlined in this essential resource.
