If you travel (even a little), you need to know the different modes of transportation you can use and the unique rules and regulations that the IRS applies to cars, trains, planes and boats. Want to find you how to maximize your travel deductions, even when you combine a pleasure with business? Read my new article titled Tax Tips: How to Deduct Travel by Car, Train, Plane, or … [Read more...]
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Don’t let the “Tax-Home” rule kill your deductions
Do you know what the “Tax-Home” rule is? You should! You see, this IRS rule is extremely important if you have a business operation that’s located away from your personal residence. IMPORTANT FACT: If you don’t comply with the tax-home rule properly, you risk destroying some or all of your home-office deductions, business-vehicle deductions, and overnight-travel … [Read more...]
How to get a tax deduction for your motor home
Do you own a motor home? If the answer is “Yes,” you might be in line for some fat tax deductions! Of course, when you deal with the IRS you need to know the rules of the road. For example, “lodging” is covered by one set of rules. And “transportation” is governed by another. Want to get the whole story in language that’s easy to understand? Read my brand new article … [Read more...]
How to claim travel transportation-cost deductions
In case you hadn’t noticed, the IRS doesn’t specialize in making things easy for taxpayers. This is especially true when it comes to figuring out business travel tax deductions. EXAMPLE: Tax deductions for the transportation component of overnight business travel are governed by a different set of rules than the set that allows deductions for lodging and meals while … [Read more...]
Secrets of tax-deductible travel
How many hours does it take to create a tax-deductible business travel day? Or is the number of hours even the right test? And then when do personal weekends, holidays, and other “personal days” become tax deductible? How much can you deduct for meals and snacks when you’re away on business? If you don’t know the answers to these and other business-travel, tax-deduction … [Read more...]