How to Write Off Travel and Entertainment Expenses

This article will help you narrow down the information available on how to best write off travel and entertainment expenses on your taxes as a small business owner.

How to Write Off Travel and Entertainment Expenses: Business Travel Expenses

Overnight travel expenses, as a small business owner, are eligible for tax deductions! According to tax codes, your “home” is  classified as the place where your business is located. The following are the standard rules on what you are able to deduct (please note : international laws may be different!).

– Transportation : As long as you’ve chosen an appropriate option, you are able to write your transportation expense off on your taxes.  First class may count, for instance, but only if justifiable and for business purposes only.

– Meals : 50% of your meals while on a business trip are deductible, including taxes and tip. If you will be paying for a business client, you must document what business you discussed in order to pass an audit. If you don’t want to document every meal related expense, the IRS offers the option to deduct a set amount of meals for the day (if you are traveling in the United States). Check to see what that amount is – it can vary year to year.

– Lodging : You can deduct 50% of all lodging expenses if an overnight stay is required. You may only deduct the cost of a single room, even with traveling with a partner.

 – Other expenses : Shipping baggage, dry cleaning and business calls may also be deducted.

How to Write Off Travel and Entertainment Expenses: Entertainment

Entertainment expenses may be written off (up to 50%) as long as they are “directly related (meaning the main purpose was for the conduct of business in a business setting and that you expect to make money or achieve another business purpose)” or “associated” to your business. You might not be talking business during the entertainment but you must have either directly before or directly after. Below is a list of expenses you are allowed to deduct.

 – Dues to Civic Organizations : Chamber of Commerce, etc. Country club and other service organizations are non-deductible.

– Meals : You may also deduct spouse’s meals if there is a clear reason to do so. You may only deduct them as an entertainment related expense if you haven’t already used them as a business expense.

– Tickets : You may deduct face value only (taxes and service fees are not deductible)

The most important thing to remember is to document everything. Keep receipts, write down who you spoke to and what you spoke about and how it relates to your business. You must also, according to the IRS, keep a written or electronic log (replacing a traditional expense report). This should include time, place, amount and how it relates to your business. It’s also very important to stay on top of all applicable IRS tax laws, as they may change frequently. Happy traveling!

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4 Trends in Food Tourism That Will Make You Want to Travel Now

This is a fact that everyone want entertainment and joy in his life and if you love travelling than this want of yours can be fulfilled successfully. But there are trends and ways that inspire you to start travelling. Here are 4 of them that will surely make you want to travel now

Figure out your inner interest

Firstly you have to know about your inner interest. This doesn’t mean that travelling only depends upon eating up the things. But this is also true that on every trip of yours you love to try different food or the things you prefer the most when it comes to eating. This means that firstly you have to know what you want then you can easily choose from the available products. You can check your interest from the following list. In this way you will be able to know that what you mostly like or want.

Vegetarian type: You only prefer vegies even on the outings.

Social type: You like to eat in the pubs or attend a festival for eating.

Gourmet type: You love fine dining.

Budgeted type: You love to eat the budgeted things from the street stalls.

Adventurous type: You love to taste the different type of dishes

Beverage trend that inspire you to travel

There are many types of beverage that are available in different countries of the world. Different countries are famous for different type of beverage being produced in them. The Brooklyn Booze is famous for different type of whiskeys, rum and hibiscus liqueur. A Virginia wine trail is also famous as the Virginia has connected its almost 250 wineries to make a network. The tourists and winemakers can enjoy the wine available in Virginia. California is also famous for wine and is also known as the wine country. Americans are also very famous in grabbing the attention of its tourists with its beer culture. There are many cities as well that are best for the beer drinks. These cities are Portland, NC and Asheville. Not only the alcohol drinks but coffee has also grab the attention of the visitors to visit and travel those countries who are rich in serving the good quality and different varieties of coffee.

Sharing the meal is the growing trend

Many people love to see the other people technique of cooking out the things. There are different plans and programs for the tourists. Through which they can explore what hosts are cooking for them and in what way. They can also help their hosts as well in this task and after that you can easily enjoyed the food that is cooked and you can share it with your hosts as well. This is so good for the experience of anyone.

A meal will tell you a story as well

The things that are grown in the one country are different from the other countries. Some vegetables, spices and fruits are specialty of a particular place and they are only grown in that particular place. People who travel in different areas would be able to know about the culture and lifestyle of that place through these things. Even a meal cooked in that particular area will tell you many things about that place.

We are sure that these trends will also inspire you all. You can select the place of your choice and according to your preference and increase your entertainment and enjoyment.

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