Have you ever wondered if you can expense your groceries? As an entrepreneur myself, I know that I need to be well-fueled to perform at my best, so shouldn't that make my groceries deductible?
I will answer this question and discuss a few other circumstances in which you may be able to deduct your groceries.
What you'll hear in this episode:
[1:28] Reviewing the definition of what makes something deductible
[2:12] Discussing a few examples where groceries may actually be deductible.
[4:30] Are groceries that I purchase for others to consume, deductible?
[5:21] What are the other areas of your tax return where groceries could be deducted?
[6:47] Can groceries qualify as a medical expense?
* Related episodes:
What is Considered Tax Deductible?
How to Take the Home Office Deduction
Are They Your Employee or a Contractor?
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.