Today, in the issue number IR-2021-79, the IRS has communicated that increases the deductibility of meal expenses from 50% to 100% for years 2021 and 2022 to promote the restaurant industry, which has been especially impacted during the pandemic. Beginning Jan. 1, 2021, through Dec. 31, 2022, businesses can claim 100% of their food or
On Friday 3/26/21, the Internal Revenue Service issued Announcement 2021-7 clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses. Link IRS - https://www.irs.gov/pub/irs-drop/a-21-07.pdf Link Bloomberg article - https://www.bloomberg.com/news/articles/2021-03-26/masks-and-hand-sanitizer-are-tax-write-offs-the-irs-says
