What is the 80% deduction for meals and entertainment?

[rust]

What qualifies a business for an 80% (as opposed to 50% or 100%) deduction for meals and entertainment.

[PATAX]

Maybe the answer is in the US Master tax guide, quickfinder, or other reference material....

[Just-Lisa-Now-]

Google 'irs meals entertainment 80%' and you should find what youre looking for

[TaxGuyBill]

Publication 463 covers meals and entertainment.

Open that open and use your search-function to find "80%".

🙂

[IRonMaN]

"If you are subject to the Department of Transportation (DOT) hours of service limits, the allowable deductible percentage is increased to 80% for business meals consumed, or related to, any period of duty for which those are in effect."

Sorry, I have to post the actual answer before the line of hints gets so long that it starts to impede traffic flow.

[Just-Lisa-Now-]

🐟 vs 🎣

[qbteachmt]

Deductible entertainment? Make sure to look at Dates, if you rely on articles that have tables that will assist you in applying what the IRS dictates:

https://blog.redpathcpas.com/meals-and-entertainment-in-2021

https://www.journalofaccountancy.com/issues/2021/mar/irs-entertainment-tax-deductions.html

[joshuabarksatlcs]

@IRonMaN  Could you kindly post also the details for 50% and 100%, with the timing (applicable years), as well as the rules for entertainment, before this gets really, really long to create a traffic jam?

[IRonMaN]

Sorry, I am heading out to teach a couple of 6 year old kids how to fish.  I guess you have to start them young.

[joshuabarksatlcs]

Teaching fishing....  Inspired by @Just-Lisa-Now- 's     vs   ? 

[IRonMaN]

Learning how to fish.

Step 1 - learn how to read

[PATAX]

Maybe there should have been other signs on that bridge printed in all of the various languages used in that area.... You know how they do with the election ballots...Hmmmmmm😉

[Just-Lisa-Now-]

I tried to make them large, but it didnt seem to work, so either I suffered from some kind of operator error or Win 11 screwed me out of large emojis! They look much better like that!

[joshuabarksatlcs]

Deciphering from the arm-sizes and beer guts, I'd say the other sign ought to be bubba-bonics. Something like this:

"Yo (explicit) oughtta fergit about fishin' here.  That's z'actly right.  No fishin' here, Man."

[joshuabarksatlcs]

It's Windows 11...  

I know because I'm still using Pentium III -- just upgraded from my 386.

(My grandson is still playing on Nintendo 32.) 

I tried to enlarge the vs but it didn't work.... 

[PATAX]

Looks like they're fishing for Whoppers and Big Macs....

[joshuabarksatlcs]

  vs  

Here it is....

[George4Tacks]

I have to admit, this has been very instructive!!

[PATAX]

Cut the cable cord and just come here for entertainment....