Deducting all meals? Food for thought — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Deducting all meals? Food for thought

Get PDF file

by on
in Small Business Tax

Q: I've heard that food expenses will be deductible beginning next year. Will itemizing be required? O.D., New York

A: It's an intriguing concept, but we found no evidence of any serious congressional proposals concerning such a tasty deduction. You may be thinking of the current law regarding support that you provide for a dependent (including food and shelter). To claim a dependency exemption, you must provide more than half of that person's support.

Related Articles...

Leave a Comment

Previous post:

Next post: