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#1
03-01-2011, 07:18 PM
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Write Off Food As Gifts?
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?
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#2
03-02-2011, 01:35 PM
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Food as gifts
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.
__________________
http://www.tomcopelandblog.com
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| deduction - food, write offs |
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