Summary
From the Tax Adviser
The Taxpayer Relief Act of 1997 expanded the availability of deductions for employers who provide meals for their employees. 100% deductibility applies if the costs of meals provided are considered de minimums fringe benefits. The IRS considers several factors to determine whether the meals can be characterized as employee benefits instituted for substantially noncompensatory business reasons. Maintaining the qualifying factors and keeping exact records are important.See the full content of this document
Extract
Employer-provided employee meals.
Employers in certain businesses and industries that provide employees with meals during the workday can deduct the costs of those meals if they are ordinary and necessary business expenses. As a rule, the IRS limits th...
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