When traveling away from home on business, you may incur expenses for
meals and entertainment. You can deduct 50% of meal and entertainment
costs incurred when traveling locally, overnight, or long distance for
your rental activity.
Keep in mind that meal and entertainment costs are deductible only if
they are considered ordinary and necessary for managing your
investments. To learn more about which meal and entertainment expenses
you can deduct from your Schedule E, take a look at RealTaxTips.com.
It=92s a forum for real estate investors to learn how others are saving
money on their real estate investments, and it=92s an easy way to get
prepared for taxes.
Check out Real Tax Tips at TReXGlobal.com to learn more about saving
time and money on properties and taxes.
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