Meals and entertainment expense(redirected from Entertainment Expenses and Business Meals)
Meals and entertainment expense
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Meals and Entertainment Expense
Money that a business spends in the course of buying meals for or otherwise entertaining a client, customer, or employee. In the United States, one may deduct meals and entertainment expenses from one's taxable income, subject to certain restrictions. In general, one may only deduct up to 50% of meals and entertainment and must be able to prove that one conducted business with the person that one was entertaining.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved