[Verse 1] When you're buying meals for business, there's a rule you need to know Fifty percent deduction, that's the way it usually goes But there are three exceptions, when you can deduct it all Let me tell you when one hundred percent is how you call [Chorus] Company party, conference fee, business travel away One hundred percent deductible, remember it this way Not just fifty, take it all, when these exceptions play Company party, conference fee, business travel away [Verse 2] At your office holiday party, when all staff can attend Food and drinks are fully covered, every dollar you can spend But there's a limit you should note, don't let it slip your mind Six events per year maximum, that's the rule you'll find [Chorus] Company party, conference fee, business travel away One hundred percent deductible, remember it this way Not just fifty, take it all, when these exceptions play Company party, conference fee, business travel away [Bridge] When you register for conferences, meals included in the price Don't separate the food cost, deduct it all precise Team celebrations count as well, if everyone's invited Three exceptions to remember, keep your records united [Verse 3] Traveling overnight for business, meals become your friend Every breakfast, lunch and dinner, full deduction you can spend Away from home on company time, the rule shifts in your favor One hundred percent meal coverage, that's the business saver [Chorus] Company party, conference fee, business travel away One hundred percent deductible, remember it this way Not just fifty, take it all, when these exceptions play Company party, conference fee, business travel away [Outro] Three exceptions break the fifty rule Company party, conference fee, travel's the tool One hundred percent when these apply Keep good records, aim up high
← 2 Documentation Requirements | 1 Business Insurance (Fully Deductible) →