The finish line is in sight for 2025 taxes. Here’s what to focus on.
Tax filing deadlines are quickly approaching
- March 15, 2026 – Partnerships and S Corporations
- April 15, 2026 – Individuals and C Corporations
If you haven’t completed your tax checklist, now is the time. The sooner we receive your information, the more options we have to help you file on time.
What to Do if You’re Waiting on 1099s and K-1s
Brokerage 1099s and outside K-1s often arrive later in the season — sometimes as late as mid to late March. If you have not received your forms by March 15, please notify us so we know you’re still waiting. If they have not arrived by March 25, we typically recommend filing an extension.
There is no penalty and no increased risk for filing an extension as long as you pay your estimated tax due by April 15. We can help you calculate that estimate.
Please stay in touch with our team over the next few weeks so we can determine the best path forward.
Business meals changes for 2026
The rules around business meals have evolved over the past several years under the Tax Cuts and Jobs Act (TCJA) and subsequent legislation. One significant change takes effect in 2026.
Beginning in 2026, business meals provided “for the convenience of the employer” are no longer deductible. (Some meals are still partially or fully deductible. See chart below.)
“Meals provided for the convenience of the employer” include on-site meals during busy work periods or from employer-provided cafeterias. A strict reading of “on-site meals” can include office snacks and occasional food provided in offices.
From 2018 to 2025, these expenses went from being 100% to 50% deductible. In 2025, the One Big Beautiful Bill (OBBB) confirmed that business meals would be 0% deductible starting in 2026.
Here’s a summary of how common meal expenses were treated in 2025 vs. 2026:
| Expense Type | 2025 Deduction | 2026 Deduction | What This Means for You |
|---|---|---|---|
| Client restaurant meals | 50% | 50% | No change. Continue documenting business purposes. |
| Travel meals (overnight business travel) |
50% | 50% | No change. |
| On-site employee meals (provided during workday for employer convenience) | 50% | 0% | No longer deductible starting in 2026. |
| Office snacks & breakroom food (coffee, snacks, occasional pizza) | 50% | Likely reduced or eliminated | Guidance is evolving. Conservative treatment may be 0% but can also be considered as a “de minimis” fringe benefit. |
| Company-wide employee events (holiday party, picnic, firm outing inside or outside office) | 100% | 100% | Still fully deductible. |
| Meals treated as employee compensation (included in wages) | 100% | 100% | Must be reported as taxable wages. |
| Owner-only meals (no clients or employees present) | 0% | 0% | No longer deductible. |
At the end of the first quarter, our Accounting Team will provide a schedule of meal expenses reflected in your records. We will ask you to note who attended and the business purpose of each meal. Clear documentation will be essential to support deductions under these updated rules.
We are also seeing frequency and dollar amount considered in determining treatment. Occasional, low-cost food items (generally under $100) may qualify as de minimis fringe benefits, which could allow 100% deductibility. However, consistent or recurring expenses are less likely to qualify.
Business Annual Reports
Many states require separate annual filings for legal entities to maintain active status, even if no income tax is due. You may receive email or mailed notifications regarding these filings. Please review them carefully and follow the instructions. If you’re not sure what to do or need assistance, we’re happy to help.
Let’s Stay the Course
Thank you for partnering with us to complete this tax season smoothly and efficiently. Working together allows us to look out for you and keep you in the best position possible.
