50% Rule for Meals & Entertainment – Landlord Tax Deduction | Business Expense
When traveling away from home on business, you may incur expenses for meals and entertainment. You can deduct 50% of meal and entertainment costs incurred when traveling locally, overnight, or long distance for your rental activity.
So if you get hungry driving across town while going to pickup the rent check, consider taking your tenant out to lunch. Deducting half of your combined expense may be more beneficial than not being able to write-off your own meal.
Keep in mind that meal and entertainment costs are deductible only if they are considered ordinary and necessary for managing your investments.
Follow the link to read it in IRS Publication 463.
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