Example 1. You spend $200 for a business-related meal. If $110 of that amount is not allowable because it is lavish and extravagant, the remaining $90 is subject to the 50% limit. Your deduction cannot be more than $45 (50% Ã $90).
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Sally Margaret Field (born November 6, 1946) is an American film and television actress and director. Field began her career in television, starring on the sitcoms Gidget (1965â66) and The Flying Nun (1967â70). She ventured into film with Smokey and the Bandit (1977) and later Norma Rae (1979), for which she received the Academy Award for Best Actress.