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40 ISSUES: 35. Entertainment/Business Meals
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- Business meals, whether traveling or with a client are only 50% tax deductible.
- Does every receipt have an acceptable story written on the back?
- Christmas parties, and summer parties for employees are 100% allowable expenses. Are the expenses fully documented?
- How does the business monitor the government rules and regulations pertaining to these expenses?
- Do I have policies and procedures in place that will work for me?
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