The Complete Guide to Deducting Business Travel Expenses
Tax deductions. In the vocabulary of taxes there are few words with a sweeter ring. This is particularly true for taxpayers who may not qualify for tax credits, namely the refundable kind. There are numerous tax deductions available: medical expense, charitable, student loan interest, mortgage interest and more.
One of the more complex and varied type is related to business travel deductions. Deducting business travel expenses is is particularly useful to taxpayers who own their own business, operate as a freelancer or contractor or have significant travel for their regular course of business.
Because of the complexity, we decided the topic deserves more than a few blog posts. The in-depth guide from The Tax Institute covers:
- What is a “tax home”?
- How to determine whether an expense is “ordinary and necessary”
- Deducting international travel expenses
- Differentiating personal and business travel expenses
- Special rules for conventions and cruises
- Local travel expenses
- What qualifies as substantiation
- Vehicle expenses
- Industry-specific deductions
- And much more
Click here to download “The Complete Guide to Deducting Business Travel Expenses” by The Tax Institute at H&R Block.
Related Resources
Changing jobs can come with tax implications like job search and moving expense deductions. Learn more about these potential benefits at H&R Block.
When it comes to making everyday tax decisions, we find that there's a gap between what's true and what's rumored. Let's explore four common tax myths.
Unfortunately, the cost of your engagement ring can't be deducted as a write-off on your personal income taxes. H&R Block tax pros explain why.
Spending your time volunteering is a great way to give back. Learn more about the tax benefits for volunteer work when filing your taxes at H&R Block.
H&R Block
