The Consolidated Appropriations Act signed into law by President Trump on December 27, 2020 provides for a 100% deduction related to meals
Applies to meals paid or incurred in calendar years 2021 and 2022
Meals include food or beverages provided by a restaurant (does not have to be in a restaurant)
The food and beverages can't be lavish or extravagant under the circumstances.
You or one of your employees must be present when the food or beverages are served.
The food or beverages must be provided to you or to a “business associate.” This is defined as a current or prospective customer, client, supplier, employee, agent, partner, or professional adviser with whom you could reasonably expect to engage or deal in your business.
If food or beverages are provided at an entertainment activity, either they must be purchased separately from the entertainment or their cost must be stated on a separate bill, invoice, or receipt. This is required because the entertainment, unlike the food and beverages, is nondeductible.
Most states do not conform