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Level 1

If I have food expenses because it's my competition, is it R&D or does it go under Food?

 
1 Comment 1
QBsguru
Level 7

If I have food expenses because it's my competition, is it R&D or does it go under Food?

If your business is food, then this would be an expense.  Other food (meals) related to the business would be meals and entertainment limited to a 50% tax deduction.

 

Check with your tax accountant for clarification.

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