Have you missed partying and having business meals with your prospects, customers, and employees?

Well, get ready to start again. Soon, COVID-19 will be behind us. It could be just a few short months away.

To help you get ready, check the table below for what you can do in 2021 and 2022 as the law stands now:

  Amount Deductible for Tax Years 2021-2022
Description 100% 50% Zero
Restaurant meals with clients and prospects X    
Entertainment such as baseball and football games with clients and prospects     X
Employee meals for convenience of employer, served by in-house cafeteria   X  
Employee meals for required business meeting, purchased from a restaurant X    
Meal served at chamber of commerce meeting held in a hotel meeting room X    
Meal consumed in a fancy restaurant while in overnight business travel status X    
Meals cooked by you in your hotel room kitchen while traveling away from home overnight   X  
Year-end party for employees and spouses X    
Golf outing for employees and spouses X    
Year-end party for customers classified as entertainment     X
Meals made on-premises for general public at marketing presentation X    
Team-building recreational event for all employees X    
Golf, theater, or football game with your best customer     X
Meal with a prospective customer at the country club following your non-deductible round of golf X    


If you have any questions on this chart, please call me on my direct line at 804-625-8061 or schedule an advisory session on my calendar.

You can also reach out directly here.

Published On: February 8th, 2022 / Categories: Business, Tax Law, Tax Regulation /

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