Today TaxMama hears from Megan who is appalled, “I heard that when deducting expenses for a business lunch (say, you and a client went out for lunch to talk shop), you are only allowed to deduct 50% of the price of the meal. That is, only their portion of the bill as a legitimate tax write-off.
Apparently, the logic is that you shouldn’t be able to write off your own meal as a business expense, only your client’s, since you would have had to eat anyway.
Is this true? Doesn’t seem fair… especially since you may not have gone to such a nice place if it wasn’t a business meeting.”
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