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Showing content with the highest reputation on 02/05/2020 in all areas

  1. To refresh, a business meal includes: meals in your area of business WITH a business colleague, or meals by yourself when you travel out of town for business. The key to making sure any deduction holds up in an audit is DOCUMENTATION. For meals specifically, there are five items you need on a receipt: 1. The name of the restaurant 2. The date of the meal 3. The amount you paid 4. Who you met with and their business relationship 5. What business items you discussed The first three items are already on the receipt so you’re covered there. The last two, a best practice is to
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