January 9, 2009 on 1:19 pm | By | In bluefreesky.com |
Food & Drinks for Employees
We run a business that works from 5pm to 8pm in the evenings. We keep
snacks around for the employees (cokes, bottle water, snacks). Is
this deductable. The business is a sole prop and is run out of my
home with 5-7 people. Any idea where we put this expense on the tax
forms?Thanks. It gives me a good place to start researching the issueTax rules list this under fringe benefits.
Take a look at this publication, page 7, "Meals and Lodging".
http://www.irs.gov/pub/irs-pdf/p535.pdf
See also, "De Minimus Benefits" in this publication on page 6.
http://www.irs.gov/pub/irs-pdf/p15b.pdf
http://www.thetntsite.com/Absolutely --this is deductable. I did the same thing when I owned a
carpet and upholstery cleaning business and wanted to keep my sales
personnel onsite all day. I had a CPA prepare my returns so I don't
know where he put it.
Even Google provides free food to it's workers, in certain locations
(Mountain View for sure):
Benefits . . . WAY Beyond the Basics*
://www.google.com/support/jobs/bin/static.py?page=benefits.html&benefits=us#bwbb
..."Food
Hungry? Check out our free lunch and dinner ? our gourmet chefs create
a wide variety of healthy and delicious meals every day. Got the
munchies? Google also offers snacks to help satisfy you in between
meals..."
I can guarantee Google deducts this. Call your [local] IRS office and
ask them where to report the amount, they're very helpful.
~~Cynthia#If you have any other info about this subject , Please add it free.# |
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