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Tax Deduction Consulting: Business Meals Hilo HI

There are few deductions that are as open to questions as business meal deductions. The issue revolves around just exactly what makes a meal a business expense and not merely the necessary act of eating. Read and get more info from the following.

H&R Block
(808) 961-5487
325 E MAKAALA ST
HILO, HI

Data Provided by:
H&R Block
(808) 965-2388
15-2945 PAHOA VILLAGE rd
PAHOA, HI

Data Provided by:
Ms. Amber Maureen Puanani Doig (RFC®), CSA, EA
(808) 637-9690
66-250 Kamehameha Hwy., Suite C-209
Haleiwa, HI
Company
Financial Management Solutions, Inc.
Qualifications
Education: BBA
Years of Experience: 30
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Business Coach, Education Plan, Healthcare Accounts, Compensation Plans

Data Provided by:
Michelle H. Tucker (RFC®), CPAPFS, JD
(808) 791-1444
820 Mililani Street, #401
Honolulu, HI
Company
Tucker Wealth Management, Inc.
Qualifications
Education: BBA, High Honors Accounting, University of Hawaii; Juris Doctor, William S. Richardson School of Law
Years of Experience: 28
Membership
IARFC, FPA, AICPA, Bar
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Mutual Funds, Charitable Planning, Asset Protection

Data Provided by:
H&R Block
(808) 893-0100
89 HOOKELE ST STE 104
KAHULUI, HI

Data Provided by:
Kevin E. Lewis, EA
(808) 934-0144
908 Kumukoa St.
Hilo, HI
 
Mr. Calen R. Matsuno (RFC®), RFP
(808) 589-3344
803 Kamehameha Hwy Ste 414
Pearl City, HI
Company
Advantage Group, LLC
Qualifications
Education:
Years of Experience: 27
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Conrad Takehara
2051 Young Street #89
Honolulu, HI
Service
Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Busine

Data Provided by:
Mr. John D. Cornillez (RFC®), CSA, LUTCF, RFP
(808) 884-5388
P.O. Box 1245
Kapaau, HI
Company
The Cornillez Group, LLC
Qualifications
Education: BS
Years of Experience: 22
Membership
IARFC, MDRT, SCSA, NAIFA
Services
Invoice, Estate Planning, Business Planning, Tax Planning, Employee Benefits, Annuities, Life Insurance, Long Term Care Insurance, Medical Insurance, BuySell

Data Provided by:
Garcia B C Income Tax And Bookkeeping Services
(808) 847-5203
1001 Dillingham Blvd Ste 225
Honolulu, HI
 
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Tax Deduction Consulting: Business Meals

Business Meal Deductions

There are few deductions that are as open to questions as business meal deductions. The issue revolves around just exactly what makes a meal a business expense and not merely the necessary act of eating.

The key question involved in understanding business meal deductions is what makes the meal a business transaction and not simply the necessary act of eating. The issue is a little more clear cut when a person is traveling on a business related activity. The idea of traveling away from the employee's home means that he is not able to take his meals in the normal fashion that he would if he were not traveling. Therefore, he is forced to spend money that he would, most likely, not have spent otherwise. Travel expenses include business meal deductions and they can be actual expense or they may use published per diem schedules.

The per diem schedules that govern the amount of allowable meal deductions take into consideration the cost of living variations in different sections of the country. There is a higher per diem allowance when you travel on business to an area with higher expenses. The advantage of using the per diem amount is that you do not have to keep any records or worry about saving receipts. In many cases, travel expenses and meal expenses are reimbursed by the employer. Of course, you can only claim non-reimbursed expenses as a deduction.

When you are not traveling, the criteria for business meal deductions is a little less clear. The general rule is that a meal becomes a business meal when it is shared with a client or business associate and the purpose of the meal is to foster a business relationship of some type. It is not going to work to consider a meal a business meal just because you are reading a report while waiting to be served. The presence of that business associate is going to be necessary in most cases to establish the business purpose.

Interestingly enough, it is not really necessary that business actual...

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