ARIZONA BUSINESSES CAN SAVE TAXES IF THEY KNOW HOW TO DEDUCT 100% OF EMPLOYEE MEALS

By Jeffrey Brooks, CPA, CFP, MBA for JBrooks Wealth Advisors, PC, a Professional CPA and CFP Firm  jeff@jbrookswa.com  602-292-2009  Please consult with your professional tax CPA regarding your specific circumstances!

Knowing how to deduct  100% of employee meals, reducing payroll taxes and improving employee morale can save you thousands of dollars of taxes over your life!

Dear client, whenever we get new client and introductions from you and other clients in Arizona, we find that one of the most common tax mistakes is failing to understand how to deduct 100% of employee meals. Some employees use their own cash and forget to get reimbursed and lose the valuable tax deduction. Others classify  to meals entertainment that are only 50% tax-deductible.

First, I would like you to make sure that you can justify that the majority of the employees are needed to attend the meeting at your office.

Here’s a simple example:  you need to meet with a majority of your employees to go over a new process to improve client in customer service. Even if some of your employees are not in the meeting, you still can deduct the hundred percent as long as the majority of the people were needed for your meeting.

You need document the purpose of the meeting and who attended and who the meals were given to.

Many of our clients do not realize that in some cases client meals are 0% deductible, in other cases they are 50% deductible and in some cases they are 100% deductible.

Your employees will LOVE that they will not be taxed on the value of the meal! It is considered a non-taxable fringe.

You might even avoid having to raise their pay because of this wonderful tax free benefit.

My mission is to make sure that you, our clients pay less in income taxes while the same time increasing your chances of IRS audit.

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About Jeffrey Brooks

Jeffrey Brooks, CPA, CFP, MBA since 1976 has specialized in helping clients save significant taxes, help businesses increase their cash flow, revenues and profits while increasing their control and satisfaction. Jeff and his accounting firm sincerely cares about the happiness of his clients.

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JBrooks Wealth Advisors, PC.

Certified Public Accountant
Address: 4647 N 32nd Street, Suite B245
Phoenix, Arizona 85018
Phone: 602-292-2009
Email: jeff@jbrookswa.com