Currently 50% of a business related meal is deductible as an expense. If he changes it to 100% deductible then more business people will eat out and spend their money in a very hard hit industry. The industry will rebound faster and many a girlfriend and wife will suddenly become Al Green from ACB Corp 😂. This is a winning idea
Imagine you're a businessman meeting with a client to discuss some deal over lunch, and you want to pay for the meal in hopes of it influencing the outcome of the deal.
Years ago, you would have been able to write off the meal cost as a business expense, but they did away with that deduction some years ago.
Alternatively, you want to treat your employees to a meal for whatever reason. This would have been a write-off for a business back in the day.
President Trump wants businesses to be able to have these write-offs again.
If there's one thing I've learned in business is, if a company is taking you out to lunch, you are about to get swindled really soon. The nicer the place they take you, the more you're going to get swindled.
Remember, if they invite you out to eat, you're the one paying for it.
Can you elaborate. You seem to be the only one that understands the context of this message.
Currently 50% of a business related meal is deductible as an expense. If he changes it to 100% deductible then more business people will eat out and spend their money in a very hard hit industry. The industry will rebound faster and many a girlfriend and wife will suddenly become Al Green from ACB Corp 😂. This is a winning idea
Imagine you're a businessman meeting with a client to discuss some deal over lunch, and you want to pay for the meal in hopes of it influencing the outcome of the deal.
Years ago, you would have been able to write off the meal cost as a business expense, but they did away with that deduction some years ago.
Alternatively, you want to treat your employees to a meal for whatever reason. This would have been a write-off for a business back in the day.
President Trump wants businesses to be able to have these write-offs again.
If there's one thing I've learned in business is, if a company is taking you out to lunch, you are about to get swindled really soon. The nicer the place they take you, the more you're going to get swindled.
Remember, if they invite you out to eat, you're the one paying for it.