jwmbishop Posted July 17, 2010 Author Report Share Posted July 17, 2010 So if I eat lunch at a restaurant it's deductible as a business expense......but (in order to SAVE money) I take a sack lunch it's not deductible? WTF!!!!! Obamanomics at its finest...... ummmmmm eating at a restaraunt is generally not deductable. meals incidental to travel outside of your tax home for a business related purpose may be deductable. However your tax home is the general area in which you earn your income - not necessarily where you live! Eating lunch within your tax home is not ordinary and necessary to the business whether you buy it or brown bag it. Be careful here - the IRS has gotten really stiff on this and in many cases ruled "no tax home" because the geographcal area where the higest earnings came from are too broad and undefined. There can be no "travel away" from a tax home that does not exist (the Tyler post of duty recently tore thru the east tx oil workers claiming each new rig was a new tax home - disallowed a TON of not only meal - but housing expenses as well)! I am officed in Corsicana - I have locations in Nacogdoches - about three hrs away SE and mansfield - about two hours NW. That would be my tax home if I was performing the services that created the company income. As my services are administerial and done in Corsicana - Cors is my tax home. If I travel to Nac and back in the same day its not really travel away - however if unusual circumstance causes me to have to stay overnight - its deductable. the brown bagging is the better deal even when you do travel - per diem rates range from 42-65 (based on location - the IRS has a list), and with per diems you do not need the reciept - just substantiate the travel location with a hotel receipt, DOT log (for truckers)etc. and claim the per diem rate. I know I can eat for less than 50 a day. Link to comment Share on other sites More sharing options...
lilmodified Posted July 21, 2010 Report Share Posted July 21, 2010 no, no, no...please let me help y'all are typing 1099 wrong...it should be: $10.99-this will be ur refund if you are lucky enough to be entitled to one, or.... $10,999-this being your payment to cover bama-idiocy.... hope that cleared it all up for ya's! Link to comment Share on other sites More sharing options...
jwmbishop Posted July 21, 2010 Author Report Share Posted July 21, 2010 And $10.99 per vendor to prepare the 1099! Link to comment Share on other sites More sharing options...
lilmodified Posted July 22, 2010 Report Share Posted July 22, 2010 And $10.99 per vendor to prepare the 1099! oh, yea! forgot 'bout them! Link to comment Share on other sites More sharing options...
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