Banks Corp., a calendar year corporation, reimburses employees for properly substantiated qualifying business meal expenses. The employees
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Banks Corp., a calendar year corporation, reimburses employees for properly substantiated qualifying business meal expenses. The employees are present at the meals, which are neither lavish nor extravagant, and the reimbursement is not treated as wages subject to withholdings. For 2023, what percentage of the meal expense may Banks deduct?
a. 0%
b. 50%
c. 80%
d. 100%
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Related Book For
South-Western Federal Taxation 2022 Essentials Of Taxation Individuals And Business Entities
ISBN: 9780357519431
25th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young, David M. Maloney
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