QUESTION: What beats taking a dream vacation?
ANSWER: Charging it all off as a business expense!
That’s right. If you create a solid business reason for taking your trip, and you can throw in enough business hours while you’re away, you can write off your entire vacation as a deductible business expense.
Want to fly first class? No problem.
Want to stay in the Presidential Suite? Be Uncle Sam’s guest.
Want to take a Caribbean cruise? The IRS wishes you a pleasant journey.
What’s the catch? You have to know the rules.
What are they? You’ll find out when you read my new article titled Tax Tips: Five Rules for Turning Your Vacation—Even a Luxurious One—into Tax-Deductible Business Travel.
Three ways our fact-filled article can help you:
- We’ll tell you how to handle transportation and “life” business-travel expenses. These are the two major expense categories the IRS is interested in. We’ll show you how to meet their requirements when you read the full article.
- We’ll explain what Uncle Sam means by “ordinary and necessary” travel expenses. According to the tax code, you can deduct your travel expenses as long as your trip is an “ordinary and necessary” cost of doing business. We’ll fill you in on the details when you you read the full article.
- We’ll tell you five ways you can justify a “business purpose” for your trip. It’s worth checking out my new article for this information alone! Before you pack your bags, be sure to you read the full article.