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Meals 100% deductible in 2021 to 2022

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

By |2021-04-08T16:31:25+00:00April 8th, 2021|Categories: Business|Tags: , , , |

Face masks and other personal protective are tax deductible medical expenses

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 - Link Bloomberg article -

By |2021-03-28T16:18:45+00:00March 28th, 2021|Categories: Individuals|Tags: , , , , , |
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