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Today's Terms
Meal Expense Deduction
Definition:
Generally, you can deduct only 50% of your business-re-lated meal expenses while traveling away from your tax home for business purposes. Also, you can generally deduct only 50% of certain reimbursements you make to your employees for meal expenses they incur while traveling away from home on business.
Acquisition
Definition:
The purchase of one corporation by another, through either the purchase of its shares, or the purchase of its assets.
Compulsory payroll tax
Definition:
An automatic tax collected from employers and employees to finance specific programs.
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