Get tax help covering combined business, pleasure travel
Wednesday, May 30, 2012
You just got home from a quick Memorial Day holiday trip, but if you're planning more travel this summer, you might be able to get some help from Uncle Sam.
The Weekly Tax Tip today looks at how business travelers can tack a few personal days onto the trip and still get tax breaks to cover most of the work-related expenses.
The key to getting travel help from the tax code is to make sure that your main reason for hitting the road (or flying or taking the train) is work. That way those legitimate expenses, including transportation and lodging and some meals, can be deducted.
Then when you stay a day or two to see the sights, you only have to cover those costs on your own.
Remember to carefully document your trip, detailing the separate business and personal expenses.
Good documentation will help you substantiate your legitimate business travel claims just in any IRS auditor questions whether you properly kept business and personal expenses separate.
Airplane photo by Sean MacEntee/Flickr
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Well! I didn't know that Uncle Sam can help in travelling also. Thanks for the tip.
Posted by: Get Rich Point | Thursday, May 31, 2012 at 12:14 AM