INNOVATIVE ACCOUNTING SOLUTIONS
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Susan M Martin, CPA, PC is a full-service accounting firm serving clients throughout the area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.
On this website, you will find information about Susan M Martin, CPA, PC, including our list of services. We have also provided you with online resources to assist in the tax process and financial decision-making. These tools include financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Bethpage, Susan M Martin, CPA, PC has years of valuable experience assisting professionals with their accounting needs.
"Inspirational Thought of the Month"
“Holding on to anger, resentment and hurt only gives you tense muscles, a headache and a sore jaw from clenching your teeth. Forginveness gives you back the laughter and the lightness in your life.”
- Joan Lunden
Business Meal Deductions for 2021 and 2022
Prior to the enactment of the CAA, the UU.S. Tax Code only allowed a business to deduct 50% of its expenses for meals, whether or not they were provided by a restaurant. The 50% deductioin still applies for business meals that are not provded by a restaurant. After 2022 the restaurant deduction will return to 50% of the cost of business meals. Meals wil traveling count for this tax deduction as well.
Under the CAA, businesses can deduct 100% of business meals provide by restaurants, including meals taken during business travel and meals offered to employees for the convenience of the employer. Unfortunately, the Internal Revenue Code does not define the term "restaurant", but many experts believe the deduction would apply to food delivered by restaurants.