How Do You Report Food Costs For Tax Purposes?

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Well-known member
Feb 23, 2009
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I used to do it by keeping the receipts until the IRS did a group audit of B&Bs in order to come up with a standardized format. They told me I should be charging a fixed amount per meal. I believe it was $10 for breakfast, $15 for lunch and $20 for dinner. That was in 2001. I've kept the same system just wondered what others were doing.
Receipts. That way there is proof, should it be necessary.
I have my receipts to back it up but I use my checkbook. Food costs for the B & B are written on the B & B account. I enter my checkbook into the computer in the proper categories, print it out and give it to my tax person, and I get a tax form ready for signature.
We save all the receipts and use them.

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