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...]
Travel
Sorted by Date
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...]
How to legally deduct that convention in Paris
If you want to deduct the cost of travel to a convention in Paris, or any other foreign destination, my new article makes “must” reading. You see, Section 274(h)(1) of the tax code spells out the special deductibility rules that apply. So, before you grab your passport and pack your bags, take a minute and check out my latest article titled Tax Tips: Deduct That Convention in … [Read more...]
How to deduct business travel without IRS hassles
If you travel out of town overnight on business, you need to know the rules that allow or disallow such travel as tax deductions. My new article explains which days, according to the IRS, are “business days” and which are “personal days.” If you’re even thinking of deducting travel for business purposes, don’t miss this must-read article titled Tax Tips: How the Law Decides If … [Read more...]
How to audit-proof your self-employed tax records
If you are audited by the IRS, will your deductions stand up to close scrutiny? If you take your case to court, will you come out a winner or wind up owing even more money? You’ll find answers to these important questions in our must-read new article titled Tax Audit Tips for Travel, Entertainment, and Education. Don’t miss it! Three ways our fact-filled article can help … [Read more...]