Mark Kohler explains that from 2021 through 2022, the IRS allowed 100% deductions for restaurant meals, a temporary break to support the industry. Solo business meals, client meetings, and food brought to the office all qualify, though the exact definition of "restaurant" is still pending.
Okay. This is Holly. I know Holly. Holly McCann down in Southern California. She says, is it true we can write off 100% of business meals? Now, when is that effective? If yes. Well, this is going to be a quick one. The answer is yes, starting January 1st of 2021. So we're now in this amazing time of being able to write off 100% of dining at restaurants. Now we're waiting for further guidance on what would qualify as a restaurant. Does that mean the deli at the grocery store? We'll find out. But definitely any dining, food truck, prepared food, street vendor, restaurant dining. 100% write off in 2021 and and 2022 in an effort to help stimulate the economy for the restaurant industry, all business owners, for a valid business dining experience where you're traveling by yourself for business or you're having a meeting with someone talking about business, or you're bringing food to the office to have a business meeting with a customer or your employees. 50 seconds. That was a t.
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