Are Client Meals Deductible?
7029639497 • April 23, 2018
"The AICPA takes the position that business meals that (1) take place between a business owner or employee and a current or prospective client; (2) are not lavish or extravagant under the circumstances; and (3) where the taxpayer has a reasonable expectation of deriving income or other specific trade or business benefit from the encounter, are not disallowed under Sec. 274(k).
The AICPA requested that the IRS provide the immediate guidance on the change to Sec. 274 ...and recommend that the IRS confirm that business meals that meet the above criteria are deductible."
- AICPA, The Tax Advisor
, April 12, 2018
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