Schedule C Expenses SMLLC or Sole Pro

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Cecelio
Posts: 175
Joined: Sun Jun 06, 2021 10:19 am

Schedule C Expenses SMLLC or Sole Pro

Post by Cecelio »

I claim a small room in my home as my office. I do some remote analysis, communications, record keeping, etc from home. I travel to 7 different sites, visiting 1 or 2 sites each day, for about 200 days a year. Travelling 16,000 miles or so. And almost always bringing a bag lunch.

Last year I claimed all 16,000 miles as business miles. That was, by far, my largest expense. Insurance $1,000. And maybe $1,000 in tools and certifications. I make about 100K. Am I in the right claiming those miles from my home office to the first site as expense?

This year line 24b, meals, caught my eye. I never leave overnight. But always eat lunch on the road. Bag lunch. They say I can use a standard meal price so I don't have to rifle through Walmart receipts. But the M&IE says lunch is $15. Am I reading that right? I can expense 50% of $15 x 200 days for a cheap bag lunch?

I feel guilty about both expenses because I use to work for these sites. Now I get to reduce my taxes due to eating lunch and driving to work. Seems silly.

Thanks.
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