Introduction

Starting in 2018, under the Tax Cuts & Jobs Act (TCJA), all business meals were made 50% deductible. This included all employee, business, travel, and per diem meals, unless separately billed to a client.

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COVID-19 has upended our daily lives, and many companies are searching for ways to aid their employees through the ongoing challenges of the moment. Thankfully, there is a little-known tax provision (IRC Section 139) which provides for disaster relief payments that can help employers support their workers.

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For tax years 2018 through 2025, individuals, trusts and estates can get a 20% deduction of Qualified Business Income (QBI) from sole proprietorships, S corporations and partnerships subject to certain limitations.

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The Tax Cuts and Jobs Act (TCJA) added a new tax deduction for owners of pass-through entities – a 20% deduction of qualified business income (QBI) from a qualified trade or business.

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The Tax Cuts and Jobs Act (TCJA) was intended to reform the tax code by lowering tax rates and changing income and deductions for all businesses.  Two of the most significant changes are the reduction of the C corporate tax rate to 21% and the addition of the 20% qualified business income deduction for pass-through entities (S corporations,

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