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2 Copyright Â© 2014 Deloitte Development LLC. All rights reserved Agenda Tax Deductibility of Travel, Meals and Entertainment ExpensesDocumentation RequirementsPotential for Income Inclusion with Regard to EmployeesCurrent IRS Examination Trends Q&A.
You can deduct half of the cost of your meals, or if you donât want to keep a lot of records, you can base your deduction on the standard meal allowance for federal workers, which is $46 per day, as of tax year 2012.Special rates may apply for exceptionally expensive areas.f you take your own car, you can either deduct the standard federal mileage rate (55Â½ cents per mile, as of this writing in March of 2013), or you can deduct actual expenses. You can also deduct rental car fees.