Turning a trip into a tax write-off - FOX 13 News

Turning a trip into a tax write-off

Posted: Updated:
ATLANTA -

With a little planning, you can turn a vacation into a business trip, and have it tax deductible!

"I think a better way to approach it is to take a business trip, and turn it into a vacation," said CPA Chris Smith with C.B. Smith and Associates.

Smith says that's an important distinction. In order to make expenses for the trip tax deductible, the purpose of the trip must be business. It all hangs on the amount of time you spend doing business.

"Maybe it's a seven day trip, if you are spending four days - maybe two days at a conference and then two more days meeting with business associates - four of those days are for business purposes and it becomes primarily a business trip," said Smith.

That means all your travel, lodging and meals are tax deductible. Smith says to make sure you get to enjoy some downtime, and schedule your business meetings strategically.

"Because you have been able to sandwich a trip in between two business days, a weekend, the law allows you to deduct your lodging and meals for that weekend," Smith said.

Smith says to keep a log of your time, including who you met with and why. But, there's no reason you can't have a little pleasure with your business. He says save your receipts, and the easiest thing to do is log your meetings directly on the receipt.

  • Good Day ArchiveMore>>

  • Back to School Jamboree with Hosea Feed The Hungry

    Back to School Jamboree with Hosea Feed The Hungry

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

  • Good Day Atlanta

    Will they melt? Good Day tests Walmart ice cream sandwiches

    Will they melt? Good Day tests Walmart ice cream sandwiches

    Tuesday, July 29 2014 10:48 AM EDT2014-07-29 14:48:05 GMT
    A summertime treat makes headlines for its reported unusual longevity. A mom in Cincinnati, Ohio told WCPO-TV that she left her son's Walmart ice cream sandwich outside overnight- and it never fully melted!
    A summertime treat makes headlines for its reported unusual longevity. A mom in Cincinnati, Ohio told WCPO-TV that she left her son's Walmart ice cream sandwich outside overnight- and it never fully melted!
  • Citizens concerned over Fulton County road

    Citizens concerned over Fulton County road

    Tuesday, July 29 2014 10:44 AM EDT2014-07-29 14:44:05 GMT
    A local advocate group says their part of town has been neglected for years by the Georgia Department of Transportation. The group "Citizens for Better Roads in South Fulton County" says finally, improvements are coming to I-285 where they live.
    A local advocate group says their part of town has been neglected for years by the Georgia Department of Transportation. The group "Citizens for Better Roads in South Fulton County" says finally, improvements are coming to I-285 where they live.
Powered by WorldNow

FOX 13 / WTVT-TV
3213 West Kennedy Blvd.
Tampa, Florida 33609
Main: (813) 876-1313
Newsroom: (813) 870-9630
Fax: (813) 871-3135

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices