Trump Suggests Reversal On Recent Limits To Meal, Entertainment Deductions

President Donald Trump said Sunday he wanted to restore deductibility for corporate meal and entertainment costs, potentially reversing some regulations he signed into law in 2017.

The president said he would ask Treasury Secretary Steven Mnuchin and Labor Secretary Eugene Scalia "to immediately start looking into the restoring of the deductibility of meals and entertainment costs for corporations ... so that corporations can send people to restaurants and take a deduction on it like they did in the old days."

The Tax Cuts and Jobs Act (TCJA) meant that from the beginning of 2018, business-related . . .

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Author: David Jonas

David Jonas in 2006 co-founded business media firm ProMedia.travel after ten years as a journalist with Business Travel News. David rejoined BTN in 2010 as executive editor when its parent company acquired ProMedia, and in 2014 co-created The Company Dime. David has a bachelor's degree in communications from Cornell University.

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