I work with clients in bunch of different time zones. Can I write off business meals if we eat while we're on a Zoom meeting?
AI accountant’s answer:
Absolutely! As long as the meal expense meets the IRS criteria, it can be deductible even if the business meal occurs during a virtual meeting. The criteria include that the expense is ordinary and necessary, not lavish or extravagant, and you or your employee is present at the meal (even virtually). The meal should also be provided to a current or potential business customer, client, consultant, or similar business contact. Just remember to keep a record of these expenses and the business purpose of the meetings. For tax year 2023, the deduction is generally limited to 50% of the meal expense.
Correct.
Keeper’s AI Accountant V2
V2 is still a fine-tuned instance of GPT-4. Improvements over V1 include more comprehensive tax code embeddings, and a better chain-of-reasoning retrieval system.