top of page

Can Signing Agents Write Off Meals on Taxes? Yes, and it pays to eat in 2023 as long as you do thing


Meals can be a business expense, but you must do it correctly! Here are some key tips to help you avoid making mistakes:

  • Sit-down meals are deductible, but grab-and-go meals usually are not (unless while traveling for business)

    • Now this doesn't mean that if you are working you can just write off meals. What it means is if you:

      • Take a client to dinner or meet with someone to discuss business

      • Purchase a basket of fries or coffee to use a table

      • Or even buy something for your clients so you can conduct business




  • You should always record the intention, attendees, date, time and amount of the meal for required documentation purposes

    • A helpful tip is to write it on the back of the receipt and then take a picture of both sides of the receipt. Here's an acronym to help you remember what to capture. I Always Do That, Ahh!



  • Use software tools such as NotaryAssist to maintain and organize your records, plus generate reports and logs. NotaryAssist also lets you upload copies of your receipts


  • Work with qualified tax professionals to stay informed and up-to-date with tax laws and changes


  • REMEMBER that in 2023, the allowable deduction for meals will return to 50% of the meal cost. This is subject to change annually.


2 views0 comments

Comments


bottom of page