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13993 Posts in 5104 Topics- by 81330 Members - Latest Member: AJleisa

September 09, 2010, 04:57:57 AM
Small Business Advice for Small Business EntrepreneursSMALL BUSINESS INFORMATION, FAQs And ANSWERSSmall Business Ideas and Home Base OpportunitiesCan I use groceries as a tax deductions for my in-home business?
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Author Topic: Can I use groceries as a tax deductions for my in-home business?  (Read 106 times)
T
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« on: January 18, 2010, 02:45:48 AM »
My husband and I, have an in-home businesses and I am looking to make sure I don't cheat myself out of any tax benefits.  Therefore, I pose this question.  Since, I am technically buying the groceries to feed employees of "our" business.  And during these meals we often talk about business strategies and planning.  SO for tax purposes am I allowed to use the groceries purchased as a business expense.
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MADMAN
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« Reply #1 on: January 19, 2010, 02:45:30 AM »
LOL!  You are asking to be audited for sure.  There is no way that you can get away with this attempted fraud.  You cannot deduct food that you would have been eating anyway.  People like you are why all small business owners have to prove that everything they do is justified and why the IRS distrusts them all.
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