STS Tax Talk

Tim, who possesses his own business, made a decision he wished to have a two-week trip around the US. So he did — and could legally deduct every dime that he spent on his “vacation”. Here’s how he achieved it. 1. Make all of your business visits before you leave for your trip. A lot of people think that they can continue vacation and simply give away their business cards in order to make the trip deductible. You must have at least one business visit before you leave to be able to establish the “prior place business purpose” required by the IRS.

Keeping this at heart, before he still left for his trip, Tim creates visits with business colleagues in the many metropolitan areas that he planned to visit. Let’s say Tim is a producer of green office products looking to expand his business and send out more product. One possible way to determine business contacts–if he doesn’t already have them–is to put advertisements looking for distributors in newspapers in each location he plans to go to.

  • B.S., Management *
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  • Find the most likely social media stations and content mediums for your business
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He could then interview those who react when he gets to the business destination. Example: Tim wants to holiday in Hawaii. If he places several advertisements for marketers, or contacts a few of his online vendors to execute a presentation, …