I buy donuts for my employees every Saturday, is that something I can claim on my taxes to get a refund?

Question

I buy donuts for my employees every Saturday, is that something I can claim on my taxes to get a refund?

Answer 1

hahaha----You could put money in one of the many beggars boxes every Sunday, but it won't get you zilch from your good old Uncle Sam!

Answer 2

yes, keep your receipts.

Answer 3

You can claim a deduction for these items (coffee break food and drink) as long as the expense is ordinary for your type of business.

However, you cannot generate a refund from a deduction.  You can only reduce tax you owe through a deduction.

Answer 4

its an office expense

Answer 5

Sure. It's a deductible business expense. Add a new category to your Chart of Accounts called "Employee Relations" . One of my former employers gave away t-shirts and things, had employee dinners, etc. regularly. All the employee giveaway items were categorized under that heading for accounting purposes. I'm also a former business owner and have done the same thing myself.