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January 6, 2021
The Consolidated Appropriations Act, 2021 (the CCA, 2021), signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CCA, 2021 includes non-tax provisions and tax provisions primarily affecting individuals, as well as numerous business tax provisions briefly summarized in this article. The provisions are found in two...
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Changes made by the Consolidated Appropriation Act, 2021 (CAA, 2021) include a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Details Included in New Legislation In general, the ordinary and necessary food and beverage expenses of operating your business are...
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