ilmscore | Prediction Details
"I spent maybe two months or so in San Diego. I spent about a month, month and a half in Manhattan. And when I went, I lived there with my business partner. So now me and my business partner are living in Airbnb. We had to go fly out to these places and then I had to go and work there. I had to eat at restaurants, I had to meet with people and do a lot of business there because I went there for business. But along the way, I also got to spend time in San Diego and Manhattan, which are beautiful cities. Now, I should also clarify that my business partner is my wife. And so now me and my wife got to go to these places like San Diego. And there was a tax deduction. Yes, I was there for business. I was meeting a lot of people, I was doing a lot of interviews, I was working with a lot of people. I was there for work, but the expense to go there and live there now became a tax write off because, well, I had to go there for work. This was a deduction. Same with meals. In 2022, there was a 100% meals deduction because we were just coming out of the pandemic, which meant if you went out and ate at a restaurant and you had a business meeting, if you were eating with your employees, if you were eating with business partners, if you were meeting with other clients, well, now these meals that you're eating at these restaurants are a 100% write-off."
By Minority Mindset | November 12, 2023 | Pending
From video
How The Wealthy Pay No Taxes (And How You Can Too) | Jaspreet Singh 00:52:27 - 00:53:35
Interpreted Prediction
Business travel, including flights, accommodation, meals, and related expenses, can be tax-deductible if the primary purpose of the trip is business. In 2022, meals at restaurants were fully deductible under certain business meeting conditions.

Prediction Details

Topic
Tax Deductions for Business Travel and Meals

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