New law doubles business meal deductions and makes favorable PPP loan changes

(CAA) Consolidated Appropriations Act of 2021, Business Deductions, Business Income Tax, Business Meals and Entertainment, COVID-19, Deductable Expenses, Deductions, Paycheck Protection Program /

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased. The new […]

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