April 19, 2022
Hi There!

While another tax deadline has passed, it’s essential to stay focused on your financial goals. Contact us or call 203-933-1679 to arrange a call or meeting to discuss tax planning ideas for the balance of 2022 and beyond. This will help you make calculated decisions to lower your taxes and provide a good estimate of your tax liability.

The SKP team is here to help you.
 
Thank you.

Rich Pavano, CPA
2022 Business Meals Deduction is 100%
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, 2022 business meals deduction is 100%. The usual deduction for 50% of the cost of business meals is doubled for food and beverages provided by restaurants.

So, you can take a customer out for a business meal or order take-out for your team and temporarily write off the entire cost β€” including the tip, sales tax and any delivery charges.

Read our blog post to learn about the basic rules, how the IRS defines "restaurant," and the importance of keeping good records.
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