Source: Jim Conway, DAKOTA FARMER, 10/31/17



When I first started doing tax farm returns, I ran across an expense account named “Meals”. My mind immediately went to the assumption that these meals were only 50% deductible. However, a colleague pointed out this was “harvest meals,” which were brought out to the fields so the crew could keep going with the harvest. These were not the infamous three martini lunches that originally drove Congress to make meals and entertainment only 50% deductible.

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