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Food and Entertainment Deduction
Food and entertainment are great ways to have fun, but they can also be a good way to do business. As a freelancer or self-employed person, you might be thinking, can I deduct meals as a business expense? All types of self-employed people are eligible for business meal deductions, but not all meals are tax-deductible. To score tax deductions, you need to know what counts as a write-off. Maybe you meet a client for dinner to discuss business or meet in a coffee shop to sign work documents. You could meet a potential client over sushi. These would all be eligible for a tax deduction. The Internal Revenue Service (IRS) made some recent changes to the qualifications for business deductions, and this guide will discuss everything you need to know about writing off business meals, groceries and entertainment.
Table of contents
Can I deduct meals as a business expense?...Read more
Temporary changes for meal deductions...Read more
Can you write off groceries on taxes?...Read more
Can I write off concert tickets and other entertainment expenses?...Read more
So what’s not eligible for deductions?...Read more
Keeping track of expenses...Read more
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