legomom922 06:18 PM 03-01-2011
For holidays, I would always bake cakes, breads etc for the parents for gifts. I also would have a "Let me cook for you" night once a month, where I would cook the famlies meals. Would I be able to claim these expenses as gifts?
TomCopeland 12:35 PM 03-02-2011
Yes, the cost of food that you cook for parents can be deducted as a business gift. The limit of the gift is $25 per person per year.