Can I deduct Starbucks as a business expense?
Answer: You cannot deduct your Starbucks, that is a personal expense. If you use your business bank account or credit card to purchase your drink, you’ll need to code it as a personal expense when completing your bookkeeping. If you provide Starbucks to a client, you can deduct this expense. If you deduct your client’s drink, be sure to keep track of the date, time, amount, and reason for the meeting.
Know Your Worth® – The small business owners’ simple guide to bookkeeping and taxes.
If you’re looking for a little kickstart to get your finances in order, I’d love for you to join me and my small business friends over at Know Your Worth®.
The Know Your Worth® program includes access to a Certified Public Accountant and a membership site which includes short videos and beautiful, downloadable guides that will walk you through the main topics in each lesson. Each lesson will be released on a weekly basis to ensure that you don’t get overloaded with information, and you have time to review and ask questions before proceeding. We have a private Facebook group for check-ins, questions, and accountability!