Donna Bordeaux walks through which meal expenses you can deduct. In 2021 and 2022, business meals are 100% deductible instead of the usual 50%. Travel meals over 60 miles away qualify even if you eat alone, but meals at home or nearby need a business purpose and someone else present.
2021 and 2022.
More than 60 miles from home.
Typically 50%.
I'm Donna Bordeaux with pypaccounting.com are you taking advantage of the meals deduction and getting everything you deserve? Well, there's some news. For 2021 and 2022, you're going to be able to deduct 100% of your qualifying meals expenses. Typically that's only 50%, but let's make sure it counts. If you're traveling more than 60 miles from home, you'll be able to deduct all of your meals 100% if they were for business purposes. Even eating alone when you're traveling does count as a business purpose, however. Here's where many people get confused. When you are at home or less than 60 miles from your home, you must have a business purpose for your meeting. You can't just stop and grab lunch because you're in a hurry and you want to get back to the studio or back to a meeting. You must be meeting during that lunch or eating that food while meeting. So make sure you're following the rules for meals, but please make sure you get everything you deserve. If you'd like to discuss meals that will help you maximize your deductions, I'd be happy to talk with you. Just click on the let's Chat in the upper right corner of our website or shoot me an email. I'm Donna bordeauxyopaccounting.com.
