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Let’s get straight to the point. To deduct meals properly, you need to follow the IRS rules. The IRS decides whether a meal deduction is allowed, so it’s important to understand their guidelines instead of guessing. Step 1: Educate Yourself on What Counts as a Business Meal. It’s not as simple as swiping your business credit card and calling it a day—the IRS has strict rules. Generally, for a meal to count as an IRS meal deduction, the meal must Have a business purpose (sorry

Many tax software programs automatically calculate the gain or loss from selling a business vehicle, but they don't always get it right....

If you're using your vehicle exclusively for business (no personal trips, no detours), then yes, you can write off the full cost of that...