Tuesday, Mar. 30 2010
Taking a look at USA Today we found this great article on what travel expenses you can actually deduct on your taxes this year and we know you want us to share, so take a peek below!
Business owners should know that you can write off 50% of your business meals ( including the tax and tip) as well as entertainment, but make sure you hold on to your receipts as you are required to have them on hand for expenses that are $75 on up.
When you are away from home you can claim a daily meal allowance, look at what your city indicates this amount should be, it ranges from $40 on up.
You can also write off the ferry or the train or the subway or the rail that you took while you were traveling so don’t forget to add that to the bunch. For more on what you can deduct while traveling, check out the USA Today article here.
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