Business meals and entertainment suffered a blow in the new 2018 tax reform bill… BUT if you’re serving meals or refreshments to prospects as part of a sales presentation that is open to the general public (meaning not just to your family and friends), the expense then qualifies as a “presentation” aka “promotional” expense, and you may write-off 100% of the bill.
Read the full explanation at: Tax Reform Allows 100 Percent Deductions for Presentation Expenses.
All other forms of business meals & entertainment have decreased or are gone. Expenses that used to be 100% deductible are now 50% deductible with additional stipulations, and expenses that used to be 50% deductible are 0%. Yep zip-zero!
Watch this video for detailed explanation.