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Tax time -- deductions?

meal penalties

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#1 Daniel Wallens

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Posted 13 January 2014 - 11:30 PM

Hi all,

 

My question applies to those union members working in NYS.

When doing your taxes, do you deduct meal penalties? I heard (from several people) that they do this and that it's a valid deduction.

 

Any insights much appreciated.


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#2 David Mullen ASC

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Posted 14 January 2014 - 01:36 AM

I don't understand, you get the meal penalty -- the producers pay it to you, you don't pay for the meal penalty... so how can it be a deduction?  Or are you claiming that it is non-taxable income like per diem?


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#3 Daniel Wallens

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Posted 09 February 2014 - 04:52 PM

I'm not really sure how it works, that's why I was asking. I guess the reasoning would be something along the lines of, it's money that, at the end of the year, is yours, but is specifically allocated to business meals. Honestly, I'm not sure.

 

If anyone is a CPA, or has one who is good with entertainment/crew type people, maybe they can weigh in on this...?

 

 

 

Or are you claiming that it is non-taxable income like per diem?

No.


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#4 Adrian Sierkowski

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Posted 09 February 2014 - 04:57 PM

it's not specifically allocated to meals, though, since they feed you. If you got $20 and spent $20 on food, then you see it would balance out (though the deduction for food isn't 100%, by the bye). But instead with a meal penalty, you got $20 and a meal you didn't pay for, so the $20, like over-time, is extra income to you-- the same as say a Christmas bonus-- using $20 as an example.


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