Want to deduct your personal meals? Well, that’s what Maurice Dreicer did. Business-related meals and entertainment (included in compensation) are one hundred percent deductible. Additionally, the expenses are not supposed to be extravagant.
Now back to Dreicer, who most certainly treated himself to the most extravagant. Dreicer was born in 1910, studied law under many schools, one of those being Harvard, and was a trust fund beneficiary.
What makes Dreicer so interesting was his quest to write a book called My 27 Year Search for the Perfect Steak — Still Looking. This book was never published or possibly written. Writing a book is a business venture so Dreicer’s “research” to find the perfect steak was deductible in theory. But the IRS wasn’t having it. Eventually, Dreicer was brought to court and the judge on the case ruled that his activities were not business related.
Most notably was Dreicer’s steak routine. First, he would challenge a restaurant to make him the perfect steak. Then, he would question the waitstaff of the meat’s origin. Lastly, he would inspect the steak with a magnifying glass, thermometer, and knife that he carried with him. If the steak did not meet his standards then it was sent back.
Learn more about the meals and entertainment deduction.
Peter Reilly has much more to say about Dreicer here.