Three Tips for Maximizing the Meals Write-Off Accountant Mark Kohler offers advice for how you can make the most of this deduction without getting audited.
Opinions expressed by Entrepreneur contributors are their own.
Come tax time, every entrepreneur should be taking advantage of the meals and entertainment expense, according to accountant Mark Kohler. Here, he offers three tips for maximizing the write-off:
1. Find a business purpose for every dining and entertainment experience you have.
2. Keep track of expenses even when dining alone.
3. Have a system for scanning and organizing your receipts.