Problem regarding deductibility of business-related meals


Question: If you are self-employed, which of the following is correct regarding the deductibility of business-related meals: a. you can deduct the full cost of all business-related meals b. expenses for meals will be disallowed if they are more than a fixed dollar amount c. generally you can deduct only 50% of the costs of your meals d. you must use the standard meal allowance if lower than the actual cost of your meal

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Accounting Basics: Problem regarding deductibility of business-related meals
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