Re: tax question… - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on March 18, 2001 at 10:18:42:
Have you considered reading the rules for yourself? Might thak you about 10 minutes, and then you would know for sure.
May I suggest publication #334, by the IRS. It is free.
The purpose of being able to deduct business meals is to generate business, and is usually confined to the folks that you might possibly be doing some business with in the future.
The auditor will ask you what business deal that you were working on getting your wife to do with you on any given day that you bought her (and your) lunch. The auditor will want to see your notes and appointment book for every day that you claim the “free (half) lunch” deduction.
I suggest that since lunch type entertainment is a super RED FLAG with the IRS, that you now “eat” the recipts, as you did the lunches.
The advice that you got from the first CPA, may have been possibly correct, but in my opinion is very marginal. Now lets see…Would a CPA get paid more if (when) you get audited ?