If you’re like most people, you love to travel. And, if you’re like most people, you probably don’t love thinking about spending money. So, when it comes to travel expenses, you might be wondering “Are travel meals 100% deductible?”
Are Travel Meals 100% Deductible?
The truth is, it depends. If you’re traveling for business, then you can deduct the cost of your meals. However, if you’re traveling for pleasure, then you can only deduct the cost of your meals if they are considered “reasonable and necessary.”
IRS Guidelines To Know If Your Travel Meal is 100% deductible
- They must be for business purposes.
- They must be reasonable in cost.
- They must be necessary for your business trip.
For example, let’s say you’re traveling for a business meeting. You can deduct the cost of your meals, as long as they are reasonable and necessary for the meeting. However, if you’re going on a business trip just for the sake of going on a business trip, then you can’t deduct the cost of your meals.
The same goes for pleasure travel. Let’s say you’re taking a trip to the beach. You can’t deduct the cost of your meals, because the trip is for pleasure. However, if you’re taking a trip to the beach for business purposes, then you can deduct the cost of your meals.
So, now that you know the answer to “Are travel meals 100% deductible?”, you can start planning your next trip with confidence!
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