Updates To What’s Deductible This Year

New year, new rules on deductibles. Before you sit down to work on your taxes (or with your accountant), remember that some of the deductibles revolving around meals and entertainment have been UPDATED. We want to keep you up-to-date with the most recent information possible. Use the handy chart below to know what you can deduct and what’s not an option anymore.

You’ll notice that the majority of changes are with business trips or meals. Your good ‘ole office snacks and beverages are still 100 percent deductible. It’s important to be honest with your deductibles. Use them to your advantage, but use them honestly.

Type of Meal/Entertainment	Prior Rule	Current Rule	Category
Business entertainment trips or events	50% deductible	Nondeductible	Entertainment
Tickets to charitable events	100% deductible	Nondeductible	Entertainment
Business meals with associates, clients, customers, or prospects	50% deductible	Nondeductible	Entertainment
Employee travel meals	50% deductible	50% deductible	Travel meals
Meals for business leagues (Chamber of Commerce, Boards of Trade, and so on)	50% deductible	50% deductible	Travel meals
Meals for meetings with employees, stockholders, agents, directors)	50% deductible	50% deductible	Office meals
Meals provided for convenience of employer	100% deductible	50% deductible	Office meals
Employee events (holiday parties, summer outings, social/recreational activities)	100% deductible	100% deductible	Company events
Office snacks and beverages	100% deductible	100% deductible	Groceries