Here’s the updated strategy: deduct your client and business meals as if tax reform never took place.
Wow. Is this aggressive? Not if:
How big is the “if” in the if? We have some insights that say business meals will be deductible for all of 2018. Of course, nothing is certain except the current uncertainty.
Let’s put it this way: if you do what you need to do to deduct the meals, then you are in a position to claim the business meals deduction when one of the above happens. So, make sure you have your 2018 business meals documented as follows:
If you want to discuss the business meals deduction please don’t hesitate to reach out to your team at Luster Tax Consulting.
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