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February 18, 2024
Question

In which section can I deduct food from my income if I work self employed

  • February 18, 2024
  • 1 reply
  • 0 views
t find this section in the declaration

1 reply

February 18, 2024

To deduct business meals on your return you will select the following:

  • Business Income and Expenses
  • Update or start next to business
  • Edit the business you have entered
  • Start next to Other Common Business Expenses
  • Start next to meals
  • Choose either the 50% meals or 100% meals

Meals that are 50% deductible include:

  • You are attending a tradeshow or conference
  • Has an actual business component such as hosting clients
  • it is necessary for you to stop for substantial sleep or rest to properly perform your duties while traveling away from home on business

Meals that are 100% deductible include

  • Company parties or picnics
  • Daycare meals
  • Meals provided to the public for promotional purposes

The 100% deduction for restaurant meals expired on January 1, 2023. 

 

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