Business Deductions
- Amortization
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- Car and Truck Expenses
- Day-Care Services
- Depreciating Business Property
- Depreciating Your Car
- Domestic Production Activities Deduction
- Health Insurance Deduction
- Home Office Deduction
- Meal and Entertainment Expenses
- Organizational Costs and Start-up Costs
- Qualified Plan Awards
- Schedule C Expenses
- Section 197 Intangibles
- Should You Sell or Trade in Your Car?
- Start-up Costs
- Travel Expenses
More Tax Topics
- Business Structures
- Hiring Workers
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Need Some Deductions for 2011?
Don't overlook these!
Updated for 2011
Small Business Deductions: Meals and Entertainment
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How to Deduct Meal and Entertainment Expenses
Self-employed:
Deduct 50% of the cost of meals and entertainment on Schedule C, Line 24 (b) for tax year 2011.
Employees:
An employee reports unreimbursed business expenses on Form 2106 or 2106-EZ.
The deduction is carried to Schedule A as a miscellaneous itemized deduction where it is subject to the 2% of adjusted gross income floor.
Self-employed individuals are not subject to the 2% floor.
Next:
Qualified Plan Awards: Deducting Qualified Plan Awards; Deduction Limit for Qualified Plan Awards; Non-Qualified Plan Awards
Related Links
- Domestic Per Diem Rates
- What Are Meal and Entertainment Expenses?
- The Rules for Deducting Meal and Entertainment Expenses
- The Restrictive Tests for Meals and entertainment Expenses
- The Associated Test (meals and entertainment)
- Audit Proofing Your Meal and Entertainment Expenses
- Entertaining at Home
- Entertainment Costs of a Spouse
- Entertainment Facilities
- Tickets to Events
- Skybox Rental
- Club Dues
- Trade Association Meetings
- Business Gifts
- Gift or Entertainment?
- Taking Turns Paying the Bill
- How Much Can You Deduct?
- Transportation Costs
- Exceptions to the 50% Limitation Rule
Copyright © 2008-2012 Larry Villano. All rights reserved.