Tax-Saving Domestic Travel for the Self-Employed

Self-employed business travelers have the opportunity to mix business and pleasure with potential tax-saving results. Just as ordinary business travel can be expensed, a combination of business and personal travel can potentially be expensed as well. Here are some tax-smart strategies for the self-employed when travelling within the United States:

• Deduct all transportation costs even if partially used for personal transport
• Count all eligible business days
• Utilize the Saturday night stay-over
• Bring your spouse and/or kids along

From calculating expenses to keeping thorough records, particular limitations, requirements and recommendations exist for each of these tax-saving strategies. The key is maintaining business as the primary reason for travel. The payoff is augmenting leisure time while away.

Review the above tax-smart strategies and more in the Weaver e-newsletter article Self-Employed: Tax-Saving Domestic Travel this Summer.