They say that “there’s no such thing as a free lunch.” However…
If you know the tax law you can deduct 100% of the cost of food and drink when you provide business meals for employees.
Yes. I know. Most business meals qualify for just a 50% deduction. But, like I said, Uncle Sam will pick up the whole tab if you know the rules. And in my latest article I’ll tell you about a wrinkle in the law that you really need to understand!
Want to find out how you and your employees can eat, drink, and be merry at the government’s expense? Easy. Just read my new article titled Tax Tips: One Additional Way to Create 100 Percent Deductions for Employee Meals.
Three ways our fact-filled article can help you:
- You’ll learn that where you have your meal is extremely important. As I wrote in a previous article, you need to furnish the meals on your business premises. But now there’s another condition you must satisfy to qualify for the whole-enchilada deduction. You’ll get the full story when you read the full article.
- I’ll explain why your “convenience” is so important. The fact is, now you have to do more than serve the meal on your business premises. The meal also has to be for “your business convenience.” We’ll explain this important rule when you read the full article.
- I’ll tell you why the new requirement gives you maximum flexibility. When you meet the two conditions discussed above, you can pick the employees to invite, choose when the lunches are free, and decide why the lunches are free. We’ll give you all the details when you read the full article.