The business meal deduction was cut to 80% of the cost in 1986,6then to 50% of the cost, effective Jan. 1, 1994.7(For 2021 and 2022, the deduction is 100% for meals purchased from a restaurant.8) Over 56 years after President John F. Kennedy denounced the tax deductibility of busine...
PPP Tax Deduction The Paycheck Protection Program (PPP) continues to cause challenges to borrowers almost eight months after the CARES Act passed. As many borrowers have recently completed their loan forgiveness applications or are nearing a point where they are ready to file, one large looming ta...