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 This Travel Day Is Personal or Business?
Three ways our fact-filled article can help you:
- We’ll explain exactly what constitutes a “business day” in the eyes of the IRS. Reg. Section 1.274-4(d)(2)(iii) of the tax law states that “you have a business day on a day when, during the hours normally considered appropriate for business, your principal activity is the pursuit of business.” Under this rule, if eight hours is the appropriate work day, you have to work at least four hours and one minute to qualify the day as a business day. You’ll get a lot more valuable information when you read the full article.
- We’ll show you how to deduct weekends, holidays, and “standby” days. If a Saturday, Sunday, legal holiday, or other reasonably necessary standby day intervenes while you’re trying to conduct your business with “reasonable dispatch,” you treat such days as business days. Get all the details when you read the full article.
- We’ll explain what to do about circumstances beyond your control. Let’s say you plan to travel to Disney World to attend a seminar. When you get there you find out that the seminar leader is ill and the seminar has been canceled. Can you go to Epcot for the day and claim it’s a business day? You’ll find out, (and learn a lot more!) when you read the full article.