Tax break for corporate meal expenses inserted into coronavirus aid package

Tax break for corporate meal expenses inserted into coronavirus aid package

Since the 1980s, businesses have only been able to deduct 50 percent of their meal expenses off their federal taxes. A proposal championed by the White House and Sen. Tim Scott (R-S.C.) would increase that deduction to 100 percent allowing companies to deduct the full cost of a business meal off their federal taxes.