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Business Meals

Can you tell me about claiming business meals for 2023?  I know some years have been 50% deductible and others 100%. Also, guidelines for claiming meals (prospecting and current clients), rules for 2023.  Thank you.

 

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1 Reply
SwapnaM
Employee Tax Expert

Business Meals

Thanks for the question Youncesfam!

Business Meal deductions for 2023: https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/types-meal-entert... 

 

For 2023, most business meals are just 50% deductible, according to the IRS rule https://www.irs.gov/pub/irs-pdf/p463.pdf  except:

  • Food for recreational employee events, such as holiday parties, summer picnics, or team-building events
  • Food provided to the public to promote goodwill (e.g., snacks or coffee for customers)
  • Food for events in support of a charitable cause
  • Meals that are an essential part of your business function (for example, if you’re a food critic or food blogger)
  • Meals provided to the employees for the convenience of the employer (e.g., dinner for employees who work late at the office)
  • Meals included as taxable compensation to employees or independent contractors
  • Meals sold to a client or customer

 

 

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