The short answer is yes - there is a tax deduction for food donations - but there are restrictions.
If your company provides meals for its employees and then deducts the cost of the food as an employee expense under IRC 162 then you can not “double dip” and deduct it again as a charitable donation. The exception to this is if you are signed up for one of Replate’s monthly prepaid subscription plans. Any unused pickups at the end of the month can be written off as a charitable food donation to our 501(c)-3 nonprofit.
Otherwise, the IRS does allow for a food donation deduction!
As a caterer, you might be eligible to receive an enhanced tax deduction for the food donation if you meet requirements. Eligible businesses include C-corporations, S-corporations, LLCs, partnerships, and sole proprietorships. After meeting these food quality requirements and receiving a written statement from the recipient, the enhanced tax deduction can be calculated.
Disclaimer: We are not tax professionals and you should consult your own advisors before engaging in any transaction.