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Congress Makes Business Meals Temporarily 100% Deductible Source: aprio.com - Feb 4, 2021 When Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017, it significantly limited the tax benefits available to companies by eliminating the deduction for entertainment expenses and reducing the deductible amount for certain types of meals (M&E). Currently, business meals are generally only 50% deductible and entertainment expenses are fully disallowed for tax purposes. Category: General Business |
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