Daymond John Giving Tax Advice To Black Entrepreneurs ( Business Meal Tax Deduction)

Daymond John, creator of FUBU and the best Shark, On Shark Tank published a video telling Black Entrepreneurs to take advantage of new tax law changes for the increase of the Business Meal Tax Deduction from 50% to 100% as a promotion for his Black Entrepreneurs Day.

For tax years 2021 & 2022 Congress has increased the tax deduction business can take from 50% to 100% in order to promote the American public to spend more money at restaurants since so many restaurants were financially strapped due to covid 19

This tax deduction change will be a game-changer for those business owners who leverage it for their benefit.

In this video, I lay out, 3 things people need to think about when leveraging this tax deduction.



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