Many of us travel for business, but end up adding a few days to also enjoy ourselves. Here are some things to think through as you figure out what is and isn’t tax deductible.
Are my meals while travelling entirely tax deductible?
No! Meals bought while out on business are 50% deductible. Tip: if you are meeting family while on business, make sure to pay for your tab separately so you can track the expense.
What do I do if my family joins me?
The expenses for family members are not deductible so it’s important to keep additional expenses like flights and their meals separate. If no additional hotel rooms are needed or rides are shared that’s something that could still be expensed.
What should I keep to justify the trip as partially business?
Keep a detailed log/calendar of your business versus personal activities on the trip. Details like purpose, who attended, copies of invoices and receipts, etc. are key.
As you can see there are a lot of nuances and details involved in keeping track of the correct travel expense for business and being prepared in case of an audit. Feel free to reach out to us with any questions!