DISCLAIMER: I am a CPA, but I am not your CPA. This article is for informational purposes only and is not tax or legal advice, nor can be relied upon as such. The author is not liable for any losses related to actions or failure to act related to the content of this article. If you need specific tax advice consult with a CPA who specializes in your subject matter and taxing jurisdiction.
Did you know that the 50% meals deduction does not apply to daycare providers? In fact providers are able to deduct 100% of the meals and snacks served to daycare children using one of two methods.
In today’s episode I will be discussing the daycare meals deduction. I will be explaining the deduction and how to take it. I will also be chatting about how the deduction is effected by food reimbursement programs and meals served to your own children.