I incurred meals expense that were reimbursed by my client. Is this expense 50% deductible to me or 100%?
Allan Madan, CA
If you received reimbursement for meals expense that you incurred, the meals expense will be fully deductible to you. However, you will also have to report the reimbursement that you received as income. In effective, the income will cancel out the expense.
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The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CA.CPA.CGA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
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