BillFairbanks
Well-Known
I wonder how much it was motivated by the new tax rules related to meals and entertainment deductions?
Old tax law: write off pretty much any meals and entertainment as long as it was somehow business related. I know a guy that did all his deals on the golf course. Can't deduct any of it now.
New tax law: can only write off meals and entertainment when traveling away from home (50+ miles). So the three martini lunch with the execs are no longer deductible. Neither is treating a potential client to lunch.
Many companies have changed their policies on reimbursements for meals.
Since when?
My company’s policy hasn’t changed. I can still get reimbursed for entertaining customers.
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