Business owners are always looking for more ways to maximize their deductions so that they can lower their taxable income. Today, a client is planning to travel in December to meet a friend/business partner and he would like to find out whether he can deduct his trip expenses as business expenses. In order to maximize travel deductions, business owners need to make sure at least 50% or more of the business trips are for business purposes. Example, 4 or more than 4 hours are dedicated for business purposes each day while traveling away from home. In this video, we provide further explanations of what you need to consider to maximize your business trips. If you need further tax consultation, do not hesitate to contact us @ 832 795 9612 or email us at firstname.lastname@example.org. You can also CLICK HERE to schedule for an appointment today.
Tax Tips 101: How do I maximize travel expenses?