Okay, maybe this is stupid. But I'm looking for every possibility for next tax season. I walk dogs in a hot Southern city and NEED energy drinks to make it after being jerked around by rowdy dogs all day. And these drinks can add up--they're not cheap. Any chance they can be a business expense? Thanks.
2007-04-22 18:38:46 · 5 answers · asked by myrmidon 2 in Business & Finance ➔ Taxes ➔ United States
Short answer: If you are in business for yourself, maybe, if it is strictly W2 income, most likely NO. Long answer: If you are in business for yourself, you can deduct business meals. If you want to deduct your energy drinks, it would have to be considered a meal with clients, or employee benefits. So you could deduct some days, when you chat with a client and purchase them a drink also, or you can deduct it as a miscellaneous employee benefit such as client provided meals if you have employees and you pay for everybody's drinks or meals. Otherwise, there are many other ways to minimize your tax liability besides writing off energy drinks. You should be deducting big retirement contributions if you have self employment income, etc. Meals is small change.
2007-04-22 19:24:20 · answer #1 · answered by LuvDylan 5 · 0⤊ 6⤋
Nice try, but no. That's a personal expense and not deductible.
Buy a water bottle, and fill it from the tap and take it with you when you go out to walk the dogs.
2007-04-23 03:07:44 · answer #2 · answered by Judy 7 · 2⤊ 1⤋
No.....
Good luck... on trying to the the IRS to change their tax audit laws....
If that were the case then all my meals and my rent should be itemized......heck, during tax seasons I'm really only home for about 5 hours and then I'm back....I have all three meals at work and I shower at the gym....
I do have to say it would be nice to have that be a business write off...my rent, child care, all living expenses, and gym memberships because during tax season we work really long hours for months at a time.
2007-04-22 18:51:44 · answer #3 · answered by mailjunkie123 3 · 3⤊ 2⤋
No, sorry, that is not deductible. Even if you are in that business as a profession, that doesn't qualify as a business expense any more than your lunch does.
2007-04-22 23:13:29 · answer #4 · answered by Bostonian In MO 7 · 3⤊ 1⤋
no
2007-04-23 01:46:32 · answer #5 · answered by Holden 3 · 0⤊ 0⤋