Business Travel

One of the big concern about travel expenses is what is and what is not travel expenses.

Not all your expenses during your business travel are deductible, the type of expense you can deduct depends on the facts of your travel.

According with the IRS Travel for Business Purpose is: “Business purpose for the expense or the business benefit gained or expected to be gained.”

“Travel expenses are the ordinary and necessary expenses of traveling away from home for your business, profession or job… You cannot deduct expenses that are lavish or extravagant or that are for personal purposes.

You are traveling away from home if your duties require you to be away from the general area of your tax home for a period substantially longer than an ordinary day’s work, and you need to get sleep or rest to meet the demands of your work while away.”

Source:Topic 511 – Business Travel Expenses

We prepare an simple Infographic with the basic concept, ask your tax preparer for more information



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Posted in: Infographics

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