Tax Deductions for Business Travel

So your boss pulls you aside and says you’re the lucky guy on the team that gets to go to Nebraska for that uber-exciting conference.

While the thought of the stale bagels with a side of boiled eggs at the Days Inn Continental Breakfast is exciting, the idea of deducting your costs for the trip should be even more so.

Deductions can mean a bigger tax refund (or more of your money staying in your pocket) as opposed to Uncle Sam’s.

If any of your costs during your trip aren’t reimbursed by your employer, there is a strong likelihood that they are deductible. Dry cleaning that suit for the welcome brunch; deductible. Taxi to and from said brunch, also deductible. The cost of business calls, or any other business communications (i.e. that .50 you had to spend to fax that document because Days Inn WiFi just wasn’t cutting it); deductible. Those things along with any tips paid for services, travel costs to the location, meals, or shipping any baggage or display items needed are ALL tax deductible. So next time your boss sends you to Nebraska, don’t be glum chum, grab form 2106 and just deduct it.

. . .

Jody Grunden is a nice guy who likes hockey, golf, and his family. He also meets with businesses on a weekly basis as a Founder and Managing Partner over at Summit CPA Group, a Virtual CFO firm that helps growing companies manage (and improve) their finances.

Jody Grunden

Jody Grunden

CPA, Virtual CFO, Founder and Managing Partner at Summit CPA Group, a virtual accounting firm that helps rapidly growing companies scale their financial health.

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