White Paper

Travel and Entertainment Deductions for Business

 
In an effort to increase the value of the tax base – and to encourage trade and commerce throughout the United States and beyond – the IRS offer a wide range of deductions and credits to individuals. Both employees and self-employed business owners may be eligible to claim these advantages, which provide major savings to successful claimants every year.

Significant deductions can be made in relation to business travel and entertainment. Employees or self-employed individuals who travel on business, or who entertain business associates and other figures in the regular course of their operations, can file expenses claims alongside their regular tax returns. These expenses can then be deducted from the total tax payable.

The rules and regulations surrounding these claims are complex and strict. This guide is designed to provide an aid in navigating these provisions, and for securing advantages for clients.

What Can be Deducted?

Deductions are divided into travel deductions and entertainment deductions. Detailed breakdowns for each category can be found below.

Travel on Business - the following are deductible costs relating to business travel;
- Any costs incurred by the action of travel itself, between the candidate’s home and the business destination. This could include air travel, rail or road travel. However, the cost must be demonstrable; if the individual is using frequent flyer miles or has had their ticket purchased for them, there is nothing to deduct from the payable tax…

Download this white paper to continue reading …

Agenda

Faculty

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today

Access to all training products $699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.