meals
2020 was certainly a year that will be remembered decades into the future for a variety of reasons. COVID-19 completely overtook our lives as it directly and indirectly affected millions. We saw millions infected, thousands die, and a booming economy crash to earth. As a self-employed individual, to survive, you needed to adapt your business…
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The Tax Cuts and Jobs Act (TCJA) made significant changes to the deductibility of meal and entertainment expenses. Unfortunately, there’s still a great deal of confusion about which deductions have been eliminated and which remain. Here’s a summary with you, the contractor, in mind. Entertainment and meals The TCJA eliminated most deductions for activities considered…
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