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📷 by Unknown (DM) | #Luxxry
5,6756017 hours ago
One of the greatest perks of being a business owner is that you get to make a large percentage of your lifestyle deductible.
That includes (business) trips! From now on, if you are a business owner, every time you travel it should be for a business trip.
The way business travel works is this: If over 50% of your trip is business days then 100% of your flight is deductible; if it’s less than 50% then none of your flight is (travel days to and from don’t count in the total).
When it comes to hotel and meals, the percentage of business days on your trip is the percent of those expenses you can deduct.
So next time you are planning a trip, it is in your best interest to determine a business purpose for the trip.
That might mean visiting a prospective client, looking to open a new office location, or holding an annual corporate retreat.
And make sure you are documenting your business activities on each of your business days!
Do you have a trip coming up? Let me know in the comments!
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