What are the current rules about meal and entertainment deductions?

The new tax law (TCJA) has made several changes in the deductibility of business meals and entertainment.  I will address deductions for meals this week and entertainment next week.  If a meal is allowed as deductible, generally only 50% of the cost is now allowed, with a few exceptions.  Two general requirements must be met: (1) the meal or beverage must not be lavash or extravagant and (2) the taxpayer or an employee of the company must be present.  The exceptions to the 50% rule (i.e. 100% deduction is allowed) are (1) meal expenses treated as compensation, (2) reimbursed meal expenses, (3) meal expenses for social activities primarily for the benefit of employees, (4) expenses for food items made available to the general public and (5) food sold to customers.