Meals and Entertainment – you may be missing deductions
Before filing your taxes, check your meals & entertainment account. Did you know that meals provided for employees and consultants while working are 100% deductible?
Most companies lump all their meals together but it is smart to have a separate account for all that food provided while working. Just call it employee expenses or something. Depending on how often you provide those working lunches, or order in dinner for people who need to work late, you could be missing a big tax deduction that you can spend on more meals so your staff isn’t working grumpy on an empty stomach, or eating unhealthy snacks out of vending machines.