Ever pondered if those trips to the supermarket could be a business expense? Being an entrepreneur, I recognize the importance of good nutrition for peak performance.

 

Shouldn't that make my grocery runs deductible?

I'll delve into this query and explore some scenarios where your groceries might just be deductible.

 

What you'll hear in this episode:

[1:28] Exploring the criteria for deductible items

[2:12] Delving into instances when groceries could be tax-deductible

[4:30] Deductibility of groceries bought for others

[5:21] Other sections in your tax return where grocery deductions might apply [6:47] Could groceries be classified as a medical expense?

 

* Related episodes:

Should You Pay Quarterly Tax Estimates?

Positioning Yourself Well for a Tax Strategist with Grant Dougherty

How Do I Know if I Need to Collect and Pay Sales Tax?

 

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

 

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

 

 

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.