Do you travel a lot with your business, or even as little as once a year? Some airlines require a weekend stay over for the lowest fair. Hers’s a travel tax tip to help.
On a business trip, you can deduct 100% of the cost of travel to your destination, whether that’s a plane, train, or bus ticket. If you rent a car to get there, and to get around, that cost of that vehicle and the fuel to drive it is deductable. If the total cost of air, weekend hotel and meals on a business trip are less than the cost of air, you can enjoy a tax deductible mini vacation in a new town!
Be sure to remember to keep a copy of your comparison and your expenses for proof should you be audited. Saving your receipts will make this much easier to do.
This is only one of the many deductions that Profit Wise has the ability to catch. You could be missing oppurtunities to save money and get more out of your business. Call Profit Wise today and see what we can save for you! 256.489.1478 or schedule a direct appointment below.