As hard as being a business owner is, there is a giant bright spot (aside from being your own boss and not having to answer to any higher up dick heads) and that is the ability to write off 100% of the cost of business-related food and beverages provided by restaurants in 2021 and 2022.
The manslaughter of the restaurant industry has led politicians to incentivize business owners to eat out as opposed to dine in. Simply put - tax deductions!
But what exactly counts as dining out? What if I want to cop a gyro off a street vendor, or order a sandwich from the deli counter at the grocery store. We talking coffee and donuts too?
According to Entrepreneur.com (no I don't actively read this site like a loser) these are what qualify. They probably have an advisory license, so we'll listen.
1. Business meetings while dining. Wining and dining your clients, partners, and father in laws. Write that off, homies.
2. Traveling by yourself for business. You don't have to be with another person to reap the benefits. Treat yourself to Benihanas, don't worry "it's for business".
3. Group staff meetings with food (take-out). This used to be a big write-off for companies, but the past two years it has been cut in half with entertainment expense eliminated as well. Under the new legislation, we back!
So start your business, write off your dining expenses and help bring back restaurant dining into the economy. Before they change their mind (literally, you have two years.)
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