| Many of us wonder, Are travel expenses tax | | | | The thing to remember is that the seminar must |
| deductible? or Is there any way for me to take a | | | | enhance your career or business. So if you were |
| vacation and write part of it off? Well the answer to | | | | going to a training class like World Capital Institute in |
| that is yes if you do it right. | | | | Orlando holds for those that wish to enter the Stock |
| The IRS allows you to deduct a part of your travel | | | | and Commodities field as a broker then that would be |
| expenses if your vacation is related to your business | | | | deductible, but if you were going to a seminar to learn |
| or will enhance your business. So if you are attending a | | | | how to trade stocks for your personal use then that |
| business meeting somewhere or a conference that will | | | | would not result in a tax deduction. |
| enhance your business you can qualify for a deduction. | | | | Time is a factor in determining whether the IRS will |
| Why do you think so many seminars and conventions | | | | consider your trip business related. You should spend |
| are held in Las Vegas or Orlando? | | | | the greater portion of your time in the seminar or |
| Now there is a right way and a wrong way of doing | | | | meeting clients than you spend frolicking. So if your |
| this. You must document why you are going to that | | | | convention is four days you should spend no more |
| location and keep your receipts. Also you should | | | | than an additional 2-3 days seeing the sights. |
| choose a seminar, convention or meeting that you | | | | Now what can be deducted: |
| could not easily duplicate in your home town. | | | | 1) If your trip is primarily for business, then you can |
| For example, a friend of mine is a hypnotist. There | | | | deduct your travel expenses air fare, taxis, etc... So |
| aren't many hypnosis shows in Orlando but there are a | | | | make sure that you have your convention or class |
| ton of them in Vegas. If he was going to Vegas to | | | | paid for before booking your flight. Or if you are going |
| learn more about how to conduct a hypnosis show to | | | | to meet a potential client, then you should have this |
| enhance his business then all the hypnosis shows that | | | | appointment set before making your travel |
| he attended in Vegas should be tax deductible. | | | | arrangements. |
| Another friend of mine helps design theme park | | | | Now if you are going to see a client, get that meeting |
| events and creates special effects for large company | | | | in writing so that you have proof. Write to him to set |
| promotions. His trips to Disney land are probably tax | | | | your appointment and have him write you back |
| deductible because he creates illusions similar to what | | | | confirming the appointment. |
| Disney creates. | | | | 2) Any meals, hotels, etc.. during this business trip can |
| Convention and business travel expenses are | | | | be written off, as a cost of doing business. |
| deductible whether you are self- employed or | | | | Remember to consult with your accountant before |
| employed by another company. So Dell could send | | | | taking your next business trip to make sure that you |
| their employees to a sales seminar and their | | | | are going about it properly and to make sure that the |
| employees could deduct many of their expenses. Or if | | | | rules have not changed. Taking a business vacation |
| you as an individual needing some extra training to | | | | and reaping the benefits is easy, if you know how to |
| further your career or business you could write off | | | | play by the IRS's rules. |
| these expenses, as well. | | | | |