Big, Beautiful Bill Act Gives Seafood Processors Who Feed Workers a Tax Deduction
At last — a tax break that has been sought by US seafood processors for years was finally enacted in the bill signed by President Trump on July 4 titled, H.R. 1 — 119th Congress: One Big Beautiful Bill Act.
Deduction of meal costs incurred by processors on vessels and in processing plants, whether on land or aboard a mothership or catcher/processor, is now legal.
The history of deducting business meals or entertainment as a cost of business goes back several decades, but the most...
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