Business Meal Tracker
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Rating: 5 (1) Cost: $0.99 Downloads: 10 - 50
Biz-Meal and Entertainment Tracker is the simplest app available that follows the guidelines required by the IRS to track your business related meals and entertainment. After entering required information for your business related meals and entertainment, reports for the week, month or year can be emailed or put on your SD Card. This app allows a person owning multiple businesses to differentiate between different company names in recording the information.
Why use this app?
Business owners: The IRS allows business owners to deduct 50% of business related meals and entertainment. This can add up over the year to be a substantial tax deduction that many business owners don’t take advantage of. This simple app fulfills the requirements of the IRS for documentation needed to claim these deductions.
We suggest that at the end of each year you email yourself a copy of the Biz-Meal and Entertainment report and store it in a save place so that you can print it out in case you are ever audited. This app is a real peace of mind for those who take these meal deductions. Just do it at the table during your meal or in the car afterwards. You’re business meal expense is now documented!
Employees: If your employer reimburses you for your meals and/or entertainment, this app will probably satisfy their requirement for documentation. You can send a Biz Meal and Entertainment report to them by email or send one to yourself and print out a copy for them. How easy can it get?
How it works:
1. Enter a new record by entering the minimal information required by the IRS on the Add New Record page.
2. When you are ready for a report of your spending, you may view the totals on the View/Edit page and/or email a report of all information or send it to your SD Card.
3. When you send the report by email at the end of the year, print it out, file and store it in case of an audit. Remember, according to the IRS, you only need save the receipts if the total of the meal or entertainment is $75 dollars or more. Meals and entertainment that are $75 dollars or more, keep your receipt and store in a safe location. The documentation from the report will be sufficient in reporting your meal and entertainment deductions in case of an audit.
Filed Under: Business