Employee Meals
Reduced from 100% to 50% deductible: Meals for employees that are for the convenience of the employer used to be 100% deductible. They are now only 50% deductible. You should enter these expenses as an ‘other expense account’ named Employee and Travel Meals.
Company Picnic or Holiday Events
Reduced to 50% deductible: Meals for company events should be recorded as Employee and Travel Meals, but only 50% of the expense is tax-deductible.
Travel Meals
Reduced to 50% deductible: These expenses should be posted as Employee and Travel Meals
Meals and Entertainment for Marketing or Planning Purposes
No Deduction Allowed in 2018: In 2017, 50% of meals could be deducted, but not anymore! These will now be non-deductible expenses.
Meals sold to the General Public
Meals that are sold to the general public, like the cost of putting on an event, are 100% deductible.