International Tax Law:
Deducting Business Expenses While Overseas
If you take a trip to Bahamas and the main objective of that is business, you can deduct the entire cost of the trip come tax season.
The other expenses of the trip like hotels and food can also be deducted as long as the meals were spent talking about business and the hotel stay was also for business purposes.
Rules for travel to overseas locations are little different especially when you are thinking about sneaking in some vacation time. The trip cannot last more than a week and you cannot spend more than 25% of your time vacationing. If you are guilty of either of these breechings of IRS rules, you cannot deduct the trip as business expense.
You can take your family along with you on business trips but none of their expenses are deductible. That doesn't mean that you cannot deduct your expenses out of theirs even though they are with you. |
