What counts as a "business meal?"
You’re out to lunch with a friend who snags the bill, slips her business AmEx into the check-holder and boldly states, “It’s on the company.” Except it’s not actually that simple. How do you know if something “counts” as a business meal - and therefore as a business tax deduction? To get to the bottom of it, you’ll need to consider the purpose of the meal, and who is benefitting from it. Business Owners & Personal Expenses Just because you’re a business owner who purchased food, it does...
