Keep What You Earn How to Deduct Your Next Vacation
In today's episode, we are going to talk all about how to deduct your vacation. This is one of the most common questions I get asked... How do I navigate deducting this? Should I be deducting this? Is this allowed? It's definitely a more gray area for my entrepreneur clients. But I'm here to tell you that you have the capability to deduct a lot more than you think you do. You're going to learn all about that in today's episode.
*Additional note/correction: When a trip is considered majority business, costs like airfare and transportation are 100% deductible but meals and lodging would still be based on the percentage of business time spent. If the trip is not majority business, the airfare and transportation to/from the destination would not be deductible. In short: it can be complicated, so meet with your CPA to plan your trip!
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.