Tax Act 1993

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Three-Martini Lunch Business Expenses Tax Deductions Tax Act 1993 Business Meals Extravagance

A derisive term for lavish lunches characterized by having three martinis and claimed as tax-deductible business expenses. The three-martini lunch became a symbol for business extravagance and resulted in 1993 tax act provisions making only 50% of the cost of business meals deductible for tax purposes.