Can I expense food I buy for my restaurant?

[LGC]

Am I able to expense the food I buy to prep my menu items?

[Critter · Accepted solution]

Of course ... the cost of food is part of your inventory or supplies whichever is more appropriate for your situation.  PLEASE seek local qualified assistance to get your books in order and to be educated in the restaurant business. 

[Anonymous]

by the way, under certain conditions you may be acle to expense your inventory if you don't already do so.  - at least for income tax purposes.   To change to expensing, you would need to consult a professional becuase of the tax forms that would have to be completed.   The pro would be able to determine if it made sense both economically and taxwise.