Which of the following is a true statement?
A. Meals are never deductible as a business expense.
B. An employer can only deduct half of any meals provided to employees.
C. The cost of business meals must be reasonable.
D. A taxpayer can only deduct a meal for a client if business is discussed during the meal.
E. None of these is true.
Ans: C. The cost of business meals must be reasonable.
Business
You might also like to view...
The cash value of the life insurance policy is the amount paid out at death
Indicate whether the statement is true or false.
Business
The standard advice of financial analysts has been to buy term insurance and invest the difference between the cost of term value insurance and cash value insurance
Indicate whether the statement is true or false.
Business