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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Walter Mitty is a negative assets manager at Life magazine who daydreams of adventures and has a crush on a coworker named Cheryl.Mitty works with photojournalist Sean O'Connell, whose images are highly regarded.he Secret Life of Walter Mitty is a 2013 romantic comedy-drama adventure cult film directed by, produced by, and starring Ben Stiller. Gore Verbinski served as executive producer. This is the second film adaptation of James Thurber 's 1939 short story of the same name.