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llama
03-21-2004, 08:24 AM
Can you count off your lunches each day while you are in the field working?

If the answer is yes, then where is it claimed for tax purposes?

missytheaccountant
03-21-2004, 08:57 AM
Only half of the meal costs is deductible. It is deducted on your Schedule C.

Mikes Lawn Landscape
03-21-2004, 09:03 AM
missy dont you have to be buying lunch for someone and discussing business before its deductible or is the Whataburger I buy myself deductible.

missytheaccountant
03-21-2004, 09:31 AM
Well, you need to be reasonable and not over do it. Technically, I just looked it up on the IRS site, you are suppose to be away from home overnight or to the point that it requires you to rest. I still see people everyday claim meals (within reason) as business expense. I guess the way they look at it is.....who is to say you weren't meeting with a potential client or buying lunch for one. In the audits I have been involved with, as long as the deduction looked reasonable there wasn't a problem. But, that changes from accountant to accountant, so I'd be sure to check with your tax advisor.

BSDeality
03-21-2004, 07:54 PM
conduct a business conversation with yourself :) and decuct it all. Just don't talk yourself into any unreasonable business choices. lol

bruces
03-21-2004, 08:45 PM
Originally posted by missytheaccountant
Only half of the meal costs is deductible. It is deducted on your Schedule C.

No, it is not deductible. It is a personal expense.

Missy, don't give people bad advice.

It doesn't depend on the accountant whether it is deductible or not. Just because some tax people will take the deduction doesn't make it legal.