Photo courtesy of Ethan Lim’s Instagram feed. In a slow year I dine in restaurants or get delivery at least 200 times. In a good year, it may be 300 or 400 times. There have been single weeks where I have hit as many as 20 restaurants. When dining out like this, most small business owners are not allowed to take tax deductions at more than 50% of the bill. There is a loophole for people who write about and review food. We can generally deduct 100% of the cost of the meal, because it is the very essence of our business. And, every year, when I look at the staggering amount of money I’ve spent (or more likely a food publication’s budget) on eating, I am positive it will trigger an IRS audit. After all, the algorithm scanning my receipts has to question at some point whether there’s really a dude who has drunk that much Champagne and has also simultaneously eaten his weight in Taco Bell Crunchwrap Supremes.
The Man With The Sandwich Plan
The Man With The Sandwich Plan
The Man With The Sandwich Plan
Photo courtesy of Ethan Lim’s Instagram feed. In a slow year I dine in restaurants or get delivery at least 200 times. In a good year, it may be 300 or 400 times. There have been single weeks where I have hit as many as 20 restaurants. When dining out like this, most small business owners are not allowed to take tax deductions at more than 50% of the bill. There is a loophole for people who write about and review food. We can generally deduct 100% of the cost of the meal, because it is the very essence of our business. And, every year, when I look at the staggering amount of money I’ve spent (or more likely a food publication’s budget) on eating, I am positive it will trigger an IRS audit. After all, the algorithm scanning my receipts has to question at some point whether there’s really a dude who has drunk that much Champagne and has also simultaneously eaten his weight in Taco Bell Crunchwrap Supremes.