Question:   For business travel, are there limits on the amounts deductible for meals?

• Meal expenses are deductible only if your travel requires you to be away from home over night or if the meal is business-related entertainment.
• You can figure all your travel meal expenses using either of the following methods:
  
  
  1. Actual cost. If you use this method, you must keep records of your actual cost.
  2. The standard meal allowance which is the federal M&IE rate. These rates are listed in Publication 1542. 
                                                                                                              
• The deduction for unreimbursed business meals is generally subject to a 50% limitation.