A. For 2019, the standard mileage rates are as follows. 58 cents per mile for business miles (up from 54.5 cents for 2018). 20 cents per mile driven for medical or moving purposes (up from 18 cents for 2018). 14 cents per mile driven in service of charitable organizations (unchanged from 2018). The standard mileage […]
travel expenses
What documents does my business have to keep in what type of recordkeeping system?
A. There’s no one way to keep records. In fact, the IRS states on its website that “you may choose any recordkeeping system suited to your business that clearly shows your income and expenses.” However, it’s important to keep thorough and accurate records. If you have incomplete or no records and get audited by the […]
Can I deduct business travel when it’s combined with a vacation?
A. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General rules Business travel expenses are potentially deductible if the travel is within the United […]
Travel Deduction Regulations
Travel Deduction Regulations – New Guidance on Local Travel Deductions A person’s daily commute between a home and an office is, of course, not deductible. On the other hand, when a person travels between two-work locations- for example, a primary office and a secondary office- the costs are deductible. But beyond that, things start getting […]
Medical Expenses – Travel Conferences
Medical Expenses – Travel Conferences Medical Conference Registration Fees Are Deductible As Medical Expense. Meals and Lodging At Conference Are Not. A parent has a child who suffers from a chronic disease. At the recommendation of the child’s physician, the parent attends a conference sponsored by an association that supports research and education concerning the disease. The parent […]
Let Uncle Sam Help Pay For Your Vacation
Let Uncle Sam Help Pay For Your Vacation Catch A Tax Break For Staying Over Saturday Night If you’re a frequent business traveler, you know there’s a premium placed on staying over at your destination on Saturday. Airlines and hotels give lower rates if your visit includes a Saturday night than if you squeeze in […]