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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Ferenc PuskÃ¡s was the captain of the formidable Hungarian soccer team of the 1950s and one of the brightest lights to grace a soccer field. Monica Seles was the World's No. 1 women's tennis player of 1991 and 1992.