Linda is self-employed and spends $600 for business meals and $1,000 for business entertainment in 2014. What is Linda allowed to deduct in 2014 for these expenses?

Question

Quizplus · Accepted Answer

Linda can deduct 50% of the cost of business meals and entertainment expenses. Therefore, she can deduct $300 for business meals and $500 for business entertainment, for a total deduction of $800.

Linda Is Self-Employed and Spends $600 for Business Meals and $1,000