Many of the expenses involved in a business trip are tax deductible
Those who have to do a lot of traveling for work will be relieved to know that you can deduct many of those expenses and thus significantly lower your tax bill.
What travel expenses can I claim?
According to the IRS, you can claim the “ordinary and necessary expenses of traveling away from home for your business, profession, or job.”
Be warned: the expenses cannot be “lavish or extravagant” in the eyes of the IRS. Obviously no personal expenses are deductible either. It might make sense to exclude questionable expenses from your return as they can increase the chance of you getting audited.
The travel expenses you can deduct include Continue reading “Business Travel Tax Deductions”