Small Business

The Basics of Meals and Entertainment Deductibility

Generally, expenses incurred in order to earn business or property income are 100% deductible when calculating your taxable income.  There are special rules that limit the deductibility of meal and entertainment expenses to the lower of 50% of the actual cost or 50% of the amount that would be considered reasonable.

When can I claim 100% of the cost of meals and entertainment?