Have you always followed the rule of “talk business for a minute and we can deduct it!”? In 2021 and 2022 that has basically been true when purchasing food at a restaurant, but that is NOT always the case. Unless the business meals deduction in the Taxpayer Certainty and Disaster Relief Act of 2020 gets extended, we’ll be back to only 50% of meals being deductible in 2023 – even when traveling or at a legitimate business dinner.
Check out the this handy cheat sheet for meals & entertainment deductions for 2022. Right now, to help restaurants, most business meals at or take-out from a restaurant are fully deductible; so if you pick up a drink at a McDonald’s drive-thru it may be deductible, but if you pick up a meal at the local gas station (not a restaurant), it may only be 50% deductible for tax purposes. This chart covers whether meals are deductible at company events, traveling for business, business meeting, snacks available to employees, providing meals at the workplace, and so on.
Small Biz Bookkeeping 