How are most small business owners losing thousands of dollars every year? Eva Rosenberg, author of Small Business Taxes Made Easy notes, “Many small businesses are cheating themselves out of at least $2,000 to $3,000 worth of tax benefits a year by not knowing the deductions and credits available to them 貓移民台灣.” This means that almost any travel an agent does can be a tax write-off! It is helpful if prior to the trip you can substantiate prior planning for familiarization or for making business contacts. Your spouse’s travel can even be deductible if the individual is part of your business or his or her presence is helpful in conducting your business.
For travel agents, travel is a tax write-off — whether to an industrial center or an island resort! If a purpose is to discuss business with other travelers, have business appointments, or to attend a business-related seminar, you go tax free. Travel agents may also deduct their travel if it is simply for the purpose of familiarizing themselves with a resort, ship, tour, etc.
Transportation expenses include all those costs incurred getting to and from your destination: airfare, vehicle, on-the-road expenses such as lodging, meals, laundry, dry cleaning, and others. For fees under $75 it is not necessary to keep receipts. For example, if while traveling you pay $20 for dry cleaning, the IRS does not demand a receipt. The only exception is for lodging. If you stay overnight, you must get a receipt for your payment. If you drive your car, 300 miles per day is allowable tax free.
For foreign travel, you can deduct all weekends and holidays that fall between business days and you can deduct on-the-road expenses for days in transit. In the case of cruise ships, you can claim it as a deduction if you can substantiate that you used the trip to familiarize yourself with this cruise package/ship.