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Originally Posted by L-Pink
Like the everyday breakfast's with your wife you mentioned in the past? Just wait till you get hit with an audit.
I have major deductions as well but the AMT (Alternative Minimum Tax) kicks in making some of them irrelevant. Surely your accountant knows what the AMT is ?..
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Did something change in the tax code where it is no longer legal to expense out a meal for business reasons? I am out of the country right now on a business trip - I am surely not here on pleasure - and I'll write off every meal I have here.
I don't write off breakfast every morning - that was a over statement - but if you don't think corporate America doesn't write off catered breakfasts for meetings and lunches, you are kidding yourself.