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The Government Clarifies the Deductibility of Expenses Incurred or Paid for Food and Beverages During the 2018 Tax Year
On December 22, 2017, the President signed into law the legislation commonly referred to as the Tax Cuts and Jobs Act of 2017 (the “TCJA” or “Act”)[1]. The Act cut the top corporate tax rate from 35% to 21% and the top individual rate from 39.6% to 37%. In addition, the Act modified various provisions …