The IRS says that food and beverage expenses paid to restaurants are deductible in 2022.
These expenses can be deducted from this tax season and next.
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The IRS says that meal and beverage expenses paid for in restaurants by businesses are completely deductible. This deduction started as part of the economic relief from the COVID-19 pandemic at 50%. Now, the IRS has determined that you can claim 100% until December 30, 2022. Read more about it here.
Food bought at a restaurant is eligible for the deduction. Pre-packaged foods from grocery or convenience stores do not meet the requirements.
In most cases, meals and entertainment activities are fully deductible for businesses. Here are some qualifying situations:
- a meal with a client where work is discussed
- employee meals at a conference
- employee meals while traveling
- food for a board meeting
- treating employees to a meal
- dinner for employees working late
- company wide party
- food and drinks provided to the public for free
Some have specific exemptions, so check the IRS website to be sure.
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