To Be Deductible,meals and Entertainment Must Be Both an Ordinary

question 148

True/False

To be deductible,meals and entertainment must be both an ordinary and necessary business expense and must be either directly related to or associated with the active conduct of an activity for which the taxpayer has a business purpose.

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Definitions:

HIPAA

The Health Insurance Portability and Accountability Act; a US law designed to provide privacy standards to protect patients' medical records and other health information.

Electronic Prescriptions

A method by which prescriptions are sent digitally from a healthcare provider to a pharmacy, improving accuracy and efficiency.

EHR Confidentiality

The protection of the privacy and security of a patient's electronic health records, limiting access to those authorized.

Electronic Health Record Programs

Software systems that healthcare providers use to maintain digital versions of patients' medical records.