Senate HEALS Act allows businesses to write off up to 100% of the cost of meals
The Senate HEALS Act would allow business owners to take a temporary 100% tax deduction on business meals. close dialog Stream live CNBC TV from around the world. START FREE TRIAL Invest Like A Pro The GOP’s $1 trillion proposal, which was released on Monday, calls for a range of relief measures to help buoy Americans during the coronavirus pandemic. Aside from offering another round of $1,200 stimulus checks and a reduced stream of unemployment benefits, the legislation aims to encourage business people to visit restaurants more often. A provision in the HEALS Act would permit businesses to fully write off the value of meals until the end of 2020. More from Personal Finance: Why unemployment is a broken system How to build an emergency fund GOP propose second round of $1,200 stimulus checks That’s up from a 50% deduction that’s currently allowed for meals and snacks at work, as well as client meals if business is being conducted. “We know that more than 5.5 million restaurant worker