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How to factor expense of food served


#1

Hi Everyone!

I’ve been a host for 3 weeks and I’ve been having a great time!

I have cooked a very nice breakfast for all my guests, and I enjoy doing it.

Is there a guideline for how to calculate an expense for groceries? Obviously I’m not going to count every egg and piece of bread. So far I’ve thought of it as $5 per person for the groups that really eat and $3 per person for the folks that eat more moderately.

Will welcome any suggestions or advice.

Thanks!

Nancy


#2

Hi Nancy

I work out what it actually costs me just in case the tax office does an audit, admittedly my guests are in separate accommodation, however for the wine, fruit platter plus other things provided I do work out from the receipts how much is actually for the guests.
In your situation I would work out what an average breakfast would cost and work on a fixed $ price for everyone keeping receipts.
It is fun hosting, I have had the best guests which has made it all so easy.
Cheers
Beverley


#3

Thanks, Beverly, I appreciate the input.

Yes, we’ve had the best guests, too. We are fairly booked this summer and have met people from Russia, Sweden, France, Romania, India, China - with Poland, Germany & The Netherlands to come. It’s so fun and and a great education for my kids.

I do want to keep good records and at least be consistent and have good reasoning should I ever have to account for my income and expenses.


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