Business Trips: The Big Does and Don’ts of Tax Deductions

Taking the family along on a business trip this summer? Learn how to save on your taxes and take the tax deductions you’re entitled to on your working vacation.

It’s tricky to mix, but with the right mindset and careful planning, you can save big on your next vacation.

Business Trips: The Big Does and Don’ts of  Tax Deductions

While a few extra days to hang out won’t disqualify tax deductions, you still have to be careful with what you claim.
-Transportation: Renting a car and driving to your destination. This will be tax deductible since the main purpose is for the work/conference. If you’re flying to a location, your ticket is tax deductible, but not your family (unless they are employees).
-Hotel: Since you'll be sharing a room, during the conference this expense is also tax deductible. Again, if you had separate rooms, only yours would be eligible as a business expense. Please also remember that if you’re upgrading your room because of your family, then that’s not deductible.
-Meals: Since you're attending the conference your meals can be deducted (50%), but not your family’s.
-Business Expenses: With traveling, you may be hit with some extra expenses like internet at the hotel, dry-cleaning (related to business), and taxis to and from the conference or business meetings.
As long as you claim travel expenses directly related to your business trip and don’t go overboard with your trip expenses you should be fine.

If you’re looking to be smart with your money during vacations, here are some ways you can have a fun trip without going into debt and how to save on vacation taxes.

While you can’t completely write off the trip, it’s nice to claim what you’re entitled to and save some money.

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