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Thursday, April 22, 2021

The Daily Money:🍔 Business meals 100% tax deductible

In today's Daily Money newsletter, we have insights on deducting business meals, filing taxes on behalf of deceased family members and unemployment. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Thursday, April 22

Good morning, Daily Money crew, and happy Earth Day to you. 🌎 It's Nathan Bomey with the roundup!

📖 Congratulations to my USA TODAY colleague Susan Page on this week's publication of her new book, "Madam Speaker: Nancy Pelosi and the Lessons of Power"! Susan writes in this op-ed about whether 2020 changed the speaker of the House.

On to our ... 

💡 INSIGHT OF THE DAY: Business meals at a restaurant are now completely tax-deductible for the next two years, according to Paul Axberg, president of Axberg Wealth Management, an Arizona-based tax, financial and retirement planning firm.  

"This was the result of the Consolidated Appropriations Act, 2021 which directed the IRS to increase the tax deduction from 50% to 100% of the cost of drinks and food at restaurants to help aid the recovery," Axberg tells Daily Money exclusively.

📰 Here are our top stories:

1. If you paid taxes on your 2020 unemployment benefits, you may be due for a refund. But it may not come automatically, meaning you might have to take action. Jessica Menton has the details.

2. Filing a tax return on behalf of a deceased family member is never joyous. This year, hundreds of thousands of Americans are doing so for someone who died from COVID-19 in 2020.

3. Cruise ships are moving out of the U.S. due to CDC restrictions. Will they return?

4. During the pandemic, states suspended the requirement for jobless Americans to look for work to qualify for unemployment benefits. That's starting to end.

5. Facebook claimed it would eliminate false posts about George Floyd. But a new report shows that it hasn't.

6. Considering joining the stock market? Here's how a 401(k) can help you break into investing

7. "Metallic mesh" doesn't sound good: Church & Dwight has recalled select gummy vitamins.

--@NathanBomey

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